Public housing output registers biggest fall since 1964
Published by Max Salsbury for 24dash.com in Housing and also in Development
The ONS's latest quarterly construction figures record the greatest fall in public housing output since the series began in 1964.
However, despite the severe drop in 2014’s Q1, the volume of new public orders was not as low 1990’s Q4.
The ONS suggests that a possible explanation for the fall in public housing orders is that investment in housing associations is coming from private investment rather than a public source.
According to official figures, the seasonally adjusted estimate of construction output in April 2014 rose by 1.2% (£113 million) when compared with March 2014. There was a slight rise of 0.9% (£55 million) in new work and a larger increase of 1.6% (£57 million) in repair and maintenance.
Year-on-year construction also grew. Compared with April 2013, construction output increased by 4.6% and all new work rose by 4.9% due to strong increases in new housing and private industrial work. Repair and maintenance increased by 4.2% over the same period.
Construction new orders in Q1 2014 were estimated to be 6.3% lower than Q4. There were falls in orders for public new housing (-45.7%), infrastructure (-16.5%), private industrial (-14.6%) and private commercial work (-1.9%).
Public other new work and private housing new orders both increased by 6.8% and 2.8% respectively.