Private housing starts in the first quarter of 1987 reached their highest quarterly level for 15 years, with a total of 46,700.
Latest statistics from the National House-Building Council show that starts in the first three months of this year were 20% up on the same quarter of 1986.
Completions were also up, reaching 43,000 — a 9% rise over the first quarter of 1986.
The NHBC’s “ability to buy” index, which gauges the capacity of first-time buyers to enter the market, dropped to 83 points — by no means an all-time low, but is clearly not good news for house-builders. However, the NHBC says April’s reduction in interest rates will increase the index to 86.
Timber-frame construction continues at a low ebb, accounting for only 7% of starts compared with 11% in the first quarter of 1985.
