The house building sector is in crisis with too few homes being delivered with not enough being done to boost the market, says Federation of Master Builders (FMB) in response to the latest S&P Global / CIPS UK Construction PMI data.
Brian Berry, Chief Executive of the Federation of Master Builders said the latest data makes for worrying reading.
It is the sixth month in a row that residential building has declined and discounting the exceptional circumstances of the pandemic it’s the lowest housing delivery for over 14 years.
“We need to see Government get to grips with this issue as it is vital to secure a healthy, growing economy,” he said. “The 300,000 housing target must be reinstated to give hope to both consumers and house builders alike that it is serious about increasing the supply of new homes.
“For too long we have not been building enough homes, resulting in overcrowding and young people not being able to afford to get on the housing ladder.
“What is very concerning is that the Government lacks a clear plan to solve the housing crisis, with the result being that the housing market continues to soften and housing remains unobtainable for many members of the public.”
