| 1. |
INTRODUCTION |
5 |
| 2. |
SUMMARY AND FUTURE PROSPECTS |
6 |
| 2.1 | SUMMARY |
6 |
| 2.2 | FUTURE PROSPECTS |
7 |
| 3. |
ECONOMIC ENVIRONMENT |
9 |
| 3.1 | GDP |
9 |
| 3.2 | INTEREST RATES AND INFLATION |
10 |
| 3.3 | HOUSEHOLD CONSUMPTION AND SAVINGS RATIO |
10 |
| 3.4 | UNEMPLOYMENT |
10 |
| 3.5 | CONCLUSIONS |
10 |
| 4. |
OVERVIEW OF THE DOMESTIC CONSTRUCTION MARKET |
11 |
| 4.1 | TOTAL CONSTRUCTION MARKET |
11 |
| 4.2 | DOMESTIC CONSTRUCTION SECTOR |
12 |
| 4.2.1 | New Work and RMI |
12 |
| 4.2.2 | Output and New Orders |
14 |
| 4.2.3 | Starts and Completions |
14 |
| 4.3 | KEY INDICATORS |
15 |
| 4.3.1 | Average House Prices - New Dwellings |
15 |
| 4.3.2 | Affordability |
16 |
| 4.3.3 | Secured Lending – House Purchases and Remortgages |
17 |
| 4.4 | FORECASTS TO 2014 |
18 |
| 5. |
DOMESTIC CONSTRUCTION SECTOR REVIEWS |
21 |
| 5.1 | PRIVATE SECTOR |
21 |
| 5.1.1 | Output and New Orders |
21 |
| 5.1.2 | Starts and Completions |
22 |
| 5.1.3 | Forecast Starts and Completions - Private Sector |
22 |
| 5.2 | PUBLIC SECTOR |
23 |
| 5.2.1 | Output and New Orders |
23 |
| 5.2.2 | Starts and Completions |
24 |
| 5.2.3 | Forecasts – New Housing |
25 |
| 5.3 | RMI - PRIVATE & PUBLIC SECTOR |
26 |
| 5.3.1 | Private Sector RMI |
26 |
| 5.3.2 | Public Sector RMI |
27 |
| 5.3.3 | Forecasts RMI Housing |
28 |
| 5.4 | KEY INFLUENCING FACTORS |
29 |
| 5.4.1 | Mix of New Housing By Type |
29 |
| 6. |
REGIONAL REVIEW |
30 |
| 6.1 | ENGLAND |
30 |
| 6.1.1 | Starts and Completions by Sector |
31 |
| 6.1.2 | Starts and Completions by Region |
32 |
| 6.2 | WALES |
34 |
| 6.2.1 | Starts and Completions by Sector |
35 |
| 6.3 | SCOTLAND |
36 |
| 6.3.1 | Starts and Completions by Sector |
37 |
| APPENDICES | 39 |
| TABLES AND CHARTS |
| CHART 1 | NEW HOUSING STARTS AND COMPLETIONS (GREAT BRITAIN) 2004 TO 2014 – BY VOLUME (DWELLINGS) |
6 |
| TABLE 2 | KEY ECONOMIC INDICATORS 2005 TO 2014 (% ) |
9 |
| TABLE 3 | CONSTRUCTION OUTPUT GREAT BRITAIN 2004 TO 2010 – BY VALUE (£ BILLION AT CURRENT PRICES) |
11 |
| TABLE 4 | DOMESTIC CONSTRUCTION OUTPUT (NEW WORK AND RMI) GREAT BRITAIN 2004 TO 2009 – BY VALUE (£ BILLION AT CURRENT PRICES) |
12 |
| TABLE 5 | DOMESTIC CONSTRUCTION OUTPUT (NEW WORK AND RMI) GREAT BRITAIN 2004 TO 2009 – MOVING ANNUAL TOTAL BY VALUE (£ MILLION AT CURRENT PRICES) |
13 |
| CHART 6 | DOMESTIC CONSTRUCTION SECTOR – OUTPUT AND NEW ORDERS NEW HOUSING 2007 TO Q3 2009 – BY VALUE (£ MILLION AT CURRENT PRICES) |
14 |
| TABLE 7 | HOUSEBUILDING STARTS AND COMPLETIONS QUARTERLY AND MAT GREAT BRITAIN 2003 TO 2009 Q3 BY VOLUME |
15 |
| CHART 8 | NEW DWELLINGS BY AVERAGE PRICE, RECORDED INCOME OF BORROWERS AND AVERAGE MORTGAGE ADVANCE 1990-2009 – BY VALUE (£) |
16 |
| CHART 9 | HALIFAX HOUSE PRICE TO EARNINGS RATIO 2000-2009 |
17 |
| CHART 10 | MOVING ANNUAL TOTAL SECURED GROSS LENDING TO INDIVIDUALS AND HOUSING ASSOCIATIONS 2004-09 £M |
17 |
| CHART 11 | DOMESTIC CONSTRUCTION OUTPUT GROWTH AND FORECASTS 2004 TO 2014 – BY VALUE (£ MILLION AT CURRENT PRICES) |
18 |
| CHART 12 | DOMESTIC CONSTRUCTION STARTS & COMPLETIONS AND FORECASTS 2004 TO 2014 BY VOLUME |
19 |
| TABLE 13 | DOMESTIC CONSTRUCTION OUTPUT (£ MILLION AT CURRENT PRICES) & STARTS/COMPLETIONS ANALYSIS (VOLUME) 2007 TO 2014 |
20 |
| CHART 14 | PRIVATE SECTOR NEW HOUSING OUTPUT AND NEW ORDERS ANALYSIS Q1 2004 TO Q3 2009 – BY VALUE – (£ MILLION AT CURRENT PRICES) |
21 |
| TABLE 15 | PRIVATE HOUSEBUILDING STARTS AND COMPLETIONS GREAT BRITAIN 2004 TO 2009 – BY VOLUME |
22 |
| CHART 16 | PRIVATE SECTOR NEW HOUSING STARTS AND COMPLETIONS 2004 TO 2014 – BY VOLUME OF DWELLINGS |
23 |
| CHART 17 | PUBLIC SECTOR NEW HOUSING OUTPUT AND NEW ORDERS ANALYSIS Q1 2004 TO Q3 2009 – BY VALUE – (£ MILLION AT CURRENT PRICES) |
24 |
| CHART 18 | PUBLIC HOUSEBUILDING STARTS AND COMPLETIONS GREAT BRITAIN 2004 TO 2009 – BY VOLUME |
25 |
| CHART 19 | PUBLIC SECTOR NEW HOUSING STARTS AND COMPLETIONS 2004 TO 2014 – BY VOLUME OF DWELLINGS |
26 |
| TABLE 20 | PRIVATE SECTOR HOUSING RMI GREAT BRITAIN 2004 TO 2009 – BY VOLUME |
27 |
| TABLE 21 | PUBLIC SECTOR HOUSING RMI GREAT BRITAIN 2004 TO 2009 – BY VOLUME |
28 |
| CHART 22 | RMI HOUSING FORECASTS 2004 TO 2014 |
28 |
| CHART 23 | HOUSEBUILDING COMPLETIONS - % MIX BY HOUSES / FLATS ENGLAND 2001-2009 |
29 |
| CHART 24 | NEW HOUSING STARTS AND COMPLETIONS 2003 Q1 TO 2010 Q3 IN ENGLAND – BY VOLUME OF DWELLINGS |
30 |
| CHART 25 | PUBLIC AND PRIVATE NEW HOUSING STARTS AND COMPLETIONS 2004 TO 2011 IN ENGLAND – BY VOLUME OF DWELLINGS |
31 |
| TABLE 26 | PUBLIC AND PRIVATE HOUSEBUILDING STARTS BY ENGLISH REGION 2005-2010 |
33 |
| TABLE 27 | PUBLIC AND PRIVATE HOUSEBUILDING COMPLETIONS BY ENGLISH REGION 2005-2010 |
34 |
| CHART 28 | NEW HOUSING STARTS AND COMPLETIONS 2003 Q1 TO 2010 Q3 IN WALES – BY VOLUME OF DWELLINGS |
35 |
| CHART 29 | PUBLIC AND PRIVATE NEW HOUSING STARTS AND COMPLETIONS 2003 TO 2010 IN WALES – BY VOLUME OF DWELLINGS |
36 |
| CHART 30 | NEW HOUSING STARTS AND COMPLETIONS 2003 Q1 TO 2010 Q3 IN SCOTLAND – BY VOLUME OF DWELLINGS |
37 |
| CHART 31 | PUBLIC AND PRIVATE NEW HOUSING STARTS AND COMPLETIONS 2003 TO 2010 IN SCOTLAND – BY VOLUME OF DWELLINGS |
38 |
