Housebuilding Report

Date: 31-10-2016

Tagged as: ArticleManufacturingHousebuildingConstruction

 

Firms in the housebuilding sector have raised their investment plans and are aiming to tackle the industry’s much mooted skills shortage head on, with a focus on staff training and apprenticeships, according to our latest survey of the UK housebuilding industry.

Research for the second annual report was conducted in the weeks following the result of the EU Referendum, and found firms eager to put the uncertainty that characterised the run up to the vote behind them.

Encouragingly, 42 per cent of respondents said their growth forecasts had improved since the vote to leave the European Union, compared to 27 per cent who said they had declined.

Key findings include:

  • Companies’ average growth forecast over the next five years is 28 per cent of current annual turnover, up from 25 per cent last year
  • Firms plan to invest an average 35 per cent of current annual turnover into their business over the next five years, up from 31 per cent
  • Recruitment plans have fallen back, from an average 31 per cent of the current workforce over five years last year, to 22 per cent this year
  • More than a quarter (29 per cent) of businesses said the current planning system was a concern for the industry
  • More than a quarter (26 per cent) highlighted a lack of skilled construction workers as one of the main issues facing their business.

Read our report to find out more about the success of the UK's housebuilding industry, the challenges firms face and the crucial role the Government continues to play in the housing sector.

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