Britain may be growing, but that wasn’t good news for housebuilders; not at least as far as the markets were concerned. The UK’s better-than-expected GDP figure surprised the City, but for the construction industry it was a different story. The Office for National Statistics reported a 1.4 per cent drop in third-quarter construction and the biggest reason was a drop in new housing output. Things are not looking good for residential property developers. It’s not news that housebuilders are under pressure, given the post-Brexit vote sell-off, but yesterday’s figures put attention back on the sector that it could have done…

Source: The Times October 27, 2016 23:06 UTC