Lloyds Bank release 2018 Housebuilding Report
Our third annual survey of the UK housebuilding industry comes at a time when interest in the sector and its ability to deliver new homes has never felt stronger.
The housing market has long been subject to Government intervention – the focus of which is transitioning from largely demand-led to supply-led policies and solutions. Our research found an industry that is determined to grow and is using innovative new methods to boost the housing supply.
But housebuilders are facing challenges. Firms told us that Brexit has the potential to limit their access to workers from the EU, while a drop in the number of young people from the UK entering the industry is also contributing to concerns about long-term access to skills. Coupled with planning restrictions and the availability of land, we found a sector facing a unique set of challenges.
In response, housebuilding firms are ramping up investment in staff development and planning to use innovative new building techniques, like site-based modern methods of construction in a move to improve productivity.
Key findings include:
· Housebuilders’ five-year growth forecasts have edged up to an average 29% of current annual turnover
· 61% are investing in site-based modern methods of construction
· 44% say Brexit uncertainty is the biggest challenge for the industry
· 69% of housebuilding firms are investing in staff development
· The hardest roles to recruit for currently are architects (50%), plumbers and planners (41%), bricklayers and joiners (35%) and site managers (32%).