Could lack of construction make flats to rent appealing?
A lack of construction in the UK could encourage more people to look at flats to rent in the London borough of Redbridge instead of trying to find a new property.
Brian Berry, director of external affairs at the Federation of Master Builders (FMB), said it is no surprise building workloads have been falling.
He commented on figures from the latest Markit/CIPS Construction Purchasing Managers' Index, which showed construction activity in the UK slowed to its weakest level in four months in July.
Mr Berry believes this is a result of fewer homeowners having enough money to carry out DIY work on their properties, which may mean they consider renting an abode instead.
He also noted how many of the big projects previously being undertaken in the UK have dried up, which is having a knock-on effect on contractors.
He said "we are in for a very bumpy ride over the next year or so because of cuts in government expenditure and the impact that has on house building and public service".
Posted by Andy Britten
Published 19th August, 2010
© 2010 Estates IT Limited
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