Tuesday, September 4, 2012

Scotland's New Home Construction Worse in 16 Years

Commenting on the latest Housing Statistics for Scotland Scottish Building Federation Chief Executive Michael Levack said: “According to these newest figures, new home completions have fallen by a further 3% in the last financial year and by 38% since 2007-08.

"Overall, the construction of new homes in Scotland is at its lowest ebb since current records began some 16 years ago. Even more dramatically, the number of new homes being completed by the private sector has dropped 6% during the 12 months to March and by 54% compared to the 12 months to March 2008.

“As a critical sector of the Scottish construction industry and with the demand for new homes continuing to rise, it’s genuinely frightening to see housebuilding numbers continuing to slide as they currently are. The housing sector urgently needs an injection of additional direct capital investment to help nurse it back to life. If we can’t start increasing the number of new homes we build, we should at the very least be creating far greater incentives for owners to repair and maintain their existing properties so as to improve our building stock and help construction firms retain jobs and capacity during these difficult times.”

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