Knight Frank recently released its 2018 Housebuilder Survey, which examines the opportunities and challenges ahead for the development sector. It comes as the trends for property price growth across the country are changing.
The housebuilding industry has responded strongly to the demand for new housing, increasing output by 55% over the last five years. The annual survey aims to give a snapshot of where the sector is now, as well as look at what the future opportunities and hurdles might be.
It reflects the views of respondents from more than 100 housebuilders and developers, ranging from FTSE 100 companies to firms building fewer than 10 homes a year. Together, the respondents account for almost three quarters of all homes built across the country each year.
Knight Frank reports: “In terms of house prices, the picture across the UK is changing, with a more evenly spread rate of growth across the country, in contrast to growth being concentrated in London and the South East, as has been the case in recent years. This more fully reflects the economic recovery seen outside London, especially in major cities. In fact, official government data shows that housing starts over the last 18 months in Manchester and Birmingham reached highs not seen since before the global financial crisis.”