Housing Suffers Election Hangover

The Glenigan Index for June, which covers the value of projects starting on site during the previous three months, has declined by 10% as activity stalled in the run up to polling day. Civil engineering and non-residential work fell by 21%, with further declines in the retail, office and industrial sectors. Following last month's strong performance, hotel and leisure starts have now also fallen into the red, down 20% on a year ago. By contrast, the Glenigan Residential Index is up 9%, with value of schemes started by private housebuilders 14% higher than a year earlier - the fastest expansion since July 2014. Social housing starts were also up on a year earlier, with the sector seeing a modest upturn in recent months after weakening during 2014. Read more on the Housing Association Magazine website.