Social housing starts up 48% in 2012's final quarter
Published by Max Salsbury for 24dash.com in Housing and also in Development, Featured
Social housing starts up 48% in December
The amount of social housing starts in the final quarter of 2012 was up 48% on the same period in 2011.
The latest Glenigan index shows that private housing starts were also up by 20% on 2011's last three months.
Underlying construction remained strong in the final month of 2012, with project starts up 9% for the three months to December compared with 2011.
The hotel and leisure industry recorded the strongest performance from any sector in the period, where starts increased by over 70% compared to the same three month period last year, after seeing significant declines over the summer.
Glenigan economist, Andrew Whiffin, said: "The run-up to the new year has been awash with activity in the hotels and leisure sector, we have not only seen a number of large high profile projects begin in recent months but the flow of repair and maintenance has also boosted underlying work in the final months of the year. A number of projects such as those related to the construction of the new Centre Parcs at Woburn have in the past few months helped push starts for the sector into growth for the full year."
This month's index shows that a drop in retail activity over the past few months continued into December. Starts in the sector were down 33% compared to the three months to December last year.
"Retail sector projects have been dominated by the supermarket chains in 2012; their expansion programmes drove growth over the first half of the year and it is the throttling back of these programmes that has led to a slowdown as we head into 2013," commented Mr Whiffin.
READ NEXT »