The number of houses being built in the UK fell during the final 3 months of 2014, the first such decline for nearly 2 years.
The UK housing market has been slowing over the past few months but it is a very confused picture. The number of new buyers approaching Estate Agencies in England and Wales has fallen also for the 7th month in a row. However, a recent survey of the UK construction sector suggested that activity had picked up again in January.
Prospects still look relatively bright overall for house building, even if the growth rate is unlikely to regain the heady levels seen earlier in 2014 said Howard Archer an Economist at HIS Global Insight.
What this means for the older housing stock in this area is less certain. The previously buoyant market seems to have slowed over the winter months. With the price of a single garage in Sidmouth being advertised at £40,000 and a seaside flat in Seaton being marketed at around £50,000 there is a confusing pattern of “hotspots” outperformimg other areas offering better value for money.