Charles Holland, Head of Residential Investment at Marsh & Parsons, comments:
“Construction output grew in April after Marchs pause for breath, continuing the longer term upward trend. Private new housing is leading this charge which is welcome news both for prospective homeowners and the wave of stakeholders with a vested interest in meeting ambitious housebuilding targets. The levels currently seen may be relatively modest given the extent of what is required, but mighty oaks from little acorns grow and there appears to be a genuine desire to get Britain building again.
“But while certain metrics show improvements, others are more modest than this time last year which shows there is no room for complacency. Since last months statistics, Londons new Mayor has given further pledges regarding affordable housing in the capital and expressed the wish that more than 50% of homes on certain developments should be affordable but it remains to see how he intends to deliver on this pledge. Londons housing stock needs replenishing at all levels to remain healthy, but it is particularly important to nurture the supply of first-time buyers realising their property ownership aspirations.”
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