Recent reports from the Office for National Statistics (ONS) have revealed that while construction output has increased in the UK, house building has declined. This news has been met with surprise and concern from many industry experts, as it is a sign of a potential slowdown in the housing market.
The ONS report showed that construction output had increased by 1.2% in the three months to April 2019, compared with the same period last year. This was driven by a rise in infrastructure and commercial work, such as office buildings and roads. However, house building declined by 0.7% in the same period.
This news has caused some concern among industry experts, as it could be a sign of a slowdown in the housing market. House building is an important part of the economy, as it provides jobs and helps to stimulate economic growth. A decline in house building could have a negative impact on the economy.
The reasons for the decline in house building are not yet clear, but some experts believe that it could be due to a lack of available land and rising costs. The cost of land has been increasing in recent years, making it more difficult for developers to build new homes. Additionally, there is a shortage of skilled workers in the construction industry, which could also be contributing to the decline in house building.
It is important that the government takes steps to address this issue and ensure that house building does not continue to decline. This could include providing incentives for developers to build more homes, or introducing measures to make it easier for people to buy their own homes. Additionally, the government should look into ways to increase the availability of skilled workers in the construction industry, as this could help to boost house building.
Overall, the recent ONS report has revealed that while construction output has increased, house building has declined. This news has raised concerns about a potential slowdown in the housing market, and it is important that the government takes steps to address this issue and ensure that house building does not continue to decline.