| 1. |
INTRODUCTION |
7 |
| 2. | SUMMARY & FUTURE PROSPECTS |
8 |
| 2.1 | CURRENT MARKET STATUS |
8 |
| 2.2 | FUTURE PROSPECTS |
10 |
| 3. | ECONOMIC ENVIRONMENT |
12 |
| 3.1 | GDP |
12 |
| 3.2 | INFLATION & INTEREST RATES |
13 |
| 3.3 | UNEMPLOYMENT |
14 |
| 3.4 | HOUSEHOLD CONSUMPTION |
14 |
| 3.5 | CONCLUSIONS |
15 |
| 4. | CONSTRUCTION MARKET OVERVIEW |
16 |
| 5. | THE NEW HOUSING MARKET |
19 |
| 5.1 | DEFINITION |
19 |
| 5.2 | OVERALL MARKET PERFORMANCE |
19 |
| 5.2.1 | Housing Starts and Completions by Volume |
20 |
| 5.2.2 | Value of Housebuilding |
22 |
| 5.2.3 | Key Influencing Factors on New Housebuilding |
24 |
| 5.3 | HOUSING STARTS |
28 |
| 5.4 | HOUSING COMPLETIONS |
30 |
| 5.4.1 | Overall Figures |
30 |
| 5.4.2 | Mix of Housebuilding Completions |
32 |
| 5.4.3 | Regional Housebuilding Completions |
35 |
| 5.4.4 | International Comparison |
37 |
| 5.5 | HOUSE PRICES |
39 |
| 5.5.1 | Average Price of New Dwellings |
39 |
| 5.5.2 | Regional Variations |
40 |
| 5.5.3 | House Prices – All Dwellings |
42 |
| 5.6 | HOUSE-MOVING MARKET |
42 |
| 5.6.1 | Residential Property Transactions |
42 |
| 5.6.2 | Mortgages |
43 |
| 5.7 | HOUSING STOCK |
45 |
| 5.7.1 | Overall Housing Stock |
45 |
| 5.7.2 | Dwelling Stock By Age |
46 |
| 5.7.3 | International Comparison |
47 |
| 5.8 | HOUSING LAND |
48 |
| 5.8.1 | Urban Regeneration |
48 |
| 5.8.2 | Land-banks |
52 |
| 5.8.3 | Housing Land Prices |
53 |
| 5.9 | HOUSEHOLD TENURE |
54 |
| 6. | THE HOUSEBUILDERS |
57 |
| 6.1 | DEFINITIONS |
57 |
| 6.1.1 | National Housebuilders |
57 |
| 6.1.2 | Larger Regional Housebuilders |
57 |
| 6.1.3 | Smaller Regional And Local Housebuilders |
58 |
| 6.1.4 | Other Developers |
58 |
| 6.2 | OVERALL MARKET |
58 |
| 6.3 | CORPORATE ACTIVITY |
59 |
| 6.4 | HOUSEBUILDERS MARKET SHARE |
62 |
| 6.5 | NATIONAL HOUSEBUILDERS COMPANY PROFILES |
65 |
| 6.5.1 | Key Company Indicators |
65 |
| 6.5.2 | Five Year Performance Record |
84 |
| 6.5.3 | Relationship with Commercial Developers & Construction Companies |
86 |
| 6.6 | REGIONAL & LOCAL HOUSEBUILDERS |
89 |
| 6.6.1 | Company Profiles |
89 |
| 7. | CONSTRUCTION ISSUES |
96 |
| 7.1 | ENVIRONMENTAL AND SUSTAINABILITY ISSUES |
96 |
| 7.2 | MODERN METHODS OF CONSTRUCTION |
97 |
| 7.2.1 | Types of MMC |
98 |
| 7.2.2 | Advantages/Disadvantages of MMC |
99 |
| 7.2.3 | Application of MMC in Housebuilding |
101 |
| 7.2.4 | OSM Suppliers |
105 |
| 7.2.5 | The future of MMC |
106 |
| 8. | HOUSEBUILDERS BUYING AND SPECIFICATION |
108 |
| 8.1 | OVERVIEW OF THE BUYING AND SPECIFICATION |
108 |
| 8.2 | PRODUCT SPECIFICATION |
109 |
| 8.3 | SOURCE OF PURCHASE |
109 |
|
TABLES AND CHARTS |
| CHART 1 | UK HOUSEBUILDING COMPLETIONS 1996 - 2010 |
8 |
| CHART 2 | INTEREST RATES AND INFLATION (CPI) FROM 1990-2009 |
13 |
| CHART 3 | PDI & SAVINGS RATIO AT CURRENT PRICES 1990-2009 |
15 |
| CHART 4 | VALUE OF CONSTRUCTION OUTPUT NEW WORK 1990-2007 (£BN) |
16 |
| TABLE 5 | CONSTRUCTION NEW WORK OUTPUT BY SECTOR 1997-2007 (£ BILLION) AT CURRENT PRICES |
17 |
| TABLE 6 | PERFORMANCE OF THE UK NEW HOUSEBUILDING MARKET 1997 – 2006 |
20 |
| TABLE 7 | UK VALUE OF HOUSEBUILDING – CONTRACTORS OUTPUT AT CURRENT PRICES (£ MILLION) 1997 - 2007 |
23 |
| TABLE 8 | HOUSEHOLD ESTIMATES/PROJECTIONS – ENGLAND 2004 – 2029 (‘000S) |
28 |
| TABLE 9 | UK HOUSING STARTS 1997-2006 BY SECTOR (‘000) |
29 |
| TABLE 10 | HOUSE BUILDING COMPLETIONS 1997-2010 – UNITED KINGDOM (‘000 DWELLINGS) |
30 |
| CHART 11 | HOUSEBUILDING COMPLETIONS - % MIX BY TYPE OF DWELLING % GB 2001-2007 |
33 |
| TABLE 12 | PRIVATE HOUSE BUILDING COMPLETIONS 2002-2006 – UK REGIONS BY VOLUME |
35 |
| TABLE 13 | PUBLIC SECTOR* HOUSE BUILDING COMPLETIONS 2002-2006 – UK REGIONS BY VOLUME |
36 |
| CHART 14 | TYPICAL HOUSING COMPLETIONS PER CAPITA – INTERNATIONAL COMPARISONS 2005/2006 (‘000) |
38 |
| CHART 15 | AVERAGE PRICE OF NEW DWELLINGS 1997 – 2007 (£000) |
39 |
| TABLE 16 | AVERAGE PRICE OF NEW DWELLINGS 2002-2006 BY UK REGIONS (£) |
41 |
| TABLE 17 | NUMBER OF PROPERTY TRANSACTIONS IN ENGLAND AND WALES 1999-2006 (‘000) |
43 |
| TABLE 18 | AVERAGE ADVANCES BY ALL MORTGAGE LENDERS ON NEW DWELLINGS UK 1997-2006 (£’000) |
44 |
| TABLE 19 | STOCK OF DWELLINGS (‘000) IN THE UK 1971-2006 |
45 |
| CHART 20 | MIX OF STOCK OF DWELLINGS BY AGE 2006 – ENGLAND |
47 |
| CHART 21 | TYPICAL HOUSING STOCK PER CAPITA 2005/2006 (‘000) |
48 |
| TABLE 22 | % OF NEW DWELLINGS BUILT ON PREVIOUSLY DEVELOPED LAND 1996-2006 |
50 |
| TABLE 23 | MAJOR HOUSEBUILDERS - % SCHEMES BUILT ON BROWN-FIELD SITES 2004-2006 |
51 |
| TABLE 24 | AVERAGE VALUATIONS OF RESIDENTIAL BUILDING LAND WITH OUTLINE PLANNING PERMISSION IN ENGLAND 1997 – 2006 (£’000) |
53 |
| TABLE 25 | HOUSEHOLD TENURE DISTRIBUTION IN THE UK, 1997 TO 2006 |
55 |
| TABLE 26 | NHBC REGISTERED BUILDERS BY NUMBER OF UNITS STARTED 1993-2005 |
59 |
| TABLE 27 | MARKET SHARE OF MAJOR HOUSEBUILDERS 2000 - 2006 |
62 |
| CHART 28 | TOP 3 COMPANIES SHARE OF PRIVATE HOUSEBUILDING MARKET 1997-2007 (%) |
64 |
| TABLE 29 | KEY INDICATORS UK HOUSEBUILDING - PERSIMMON PLC |
65 |
| TABLE 30 | KEY INDICATORS UK HOUSEBUILDING - BARRATT DEVELOPMENT PLC |
67 |
| TABLE 31 | KEY INDICATORS UK HOUSEBUILDING - WILSON BOWDEN PLC |
68 |
| TABLE 32 | KEY INDICATORS FOR UK HOUSEBUILDING - GEORGE WIMPEY PLC |
69 |
| TABLE 33 | KEY FIGURES UK HOUSEBUILDING – TAYLOR WOODROW |
70 |
| TABLE 34 | KEY INDICATORS UK HOUSEBUILDING - BELLWAY PLC |
71 |
| TABLE 35 | KEY INDICATORS UK HOUSEBUILDING - REDROW GROUP |
72 |
| TABLE 36 | KEY INDICATORS UK HOUSEBUILDING - MILLER HOMES |
74 |
| TABLE 37 | KEY INDICATORS UK HOUSEBUILDING - BOVIS HOMES GROUP PLC |
75 |
| TABLE 38 | KEY INDICTORS UK HOUSEBUILDING - BERKELEY GROUP PLC |
77 |
| TABLE 39 | KEY INDICATORS UK HOUSEBUILDING - CREST NICHOLSON PLC |
78 |
| TABLE 40 | KEY INDICATORS UK HOUSEBUILDING – MCCARTHY & STONE PLC |
79 |
| TABLE 41 | KEY INDICATORS UK HOUSEBUILDING – GALLIFORD TRY PLC |
80 |
| TABLE 42 | KEY INDICATORS UK HOUSEBUILDING – LINDEN HOMES |
81 |
| TABLE 43 | KEY INDICATORS UK HOUSEBUILDING – CALA GROUP PLC |
83 |
| TABLE 44 | KEY INDICATORS UK HOUSEBUILDING INDUSTRY COMPARISONS - 5 YEAR ANALYSIS |
84 |
| CHART 45 | UK HOUSEBUILDING MARKET – BY BUILD METHOD -2006 BY VOLUME |
103 |