Despite a jump in profits for the first half of the year, one of Britain’s largest house building companies, Persimmon (PSNL) predicted that the UK housing market was set to remain a ‘challenging’ one.
The construction and renovation sector in Scotland could be handed a massive boost if the call made by a councillor for the government reduce the amount of VAT to be paid on home improvements and building is heeded to help give the industry a boost as it already tries to crawl out of a recession.
According to the recently arranged and released figures backed by the UK Statistics Authority, in the June quarter of 2010, there were nearly 30,000 house building starts in England; an increase of 13% compared to the previous quarter and 84% higher than the same quarter in March 2009, however it is still 42% lower than in the boom of March 2007. These recently released figures surpass those published in May and provide information on the period between April and June 2010.
Housing starts as part of private enterprises were up 10% than in the March quarter of this year, and in the same period there was a 17% increase in starts undertaken by social landlords who are registered.