Estate agents to have ‘more new homes to sell during 2025’
RICS members are optimistic about increased housebuilding next year despite ongoing financial constraints, and the opportunities that presents.
The latest RICS survey has found rising levels of optimism within the construction sector next year, particularly those building houses.
In its latest Construction Monitor report, a net balance of +28% of those surveyed predicted an increase in their workloads over the next 12 months, matching the improved sentiment seen in the previous quarter and highlighting sustained optimism for growth within the housing sector.
Residential star
And, with Labour promising to build 1.5 million new homes, the private residential sector has shown a notable rise in confidence in construction activity, with +26% of survey participants predicting it to grow.
It’s a marked improvement from the +12% average reported during the past 12 months.
Labour shortages have been a problem in the sector, but the future looks more positive there too, with a net balance of +18% of those questioned forecasting numbers to increase next year.
These results show some encouraging signs of improvement for the UK construction industry.”
Financial constraints, though, are being seen as a bigger obstacle. The still generally tight credit environment means 61% of those questioned cited it as the main factor holding up construction growth.
RICS Senior Economist, Tarrant Parsons, commented: “These results show some encouraging signs of improvement for the UK construction industry as we move into the final quarter of the year.
He adds: “Industry professionals anticipate an improvement in credit conditions over the year ahead, which should provide a much-needed boost to industry confidence”.
