Industry leaders say the outlook for construction is the most optimistic in six years. Output is expected to grow at an annual rate of 2-3% for the next three years, according to Paul Shepherd, chairman of the Building Employers Confederation. He said the industry was technically out of recession.
The most optimistic outlook is in the private housing market. The number of new homes started by builders was 20% higher in the three months to the end of October than in the same period in 1995.
Halifax building society said house prices rose on average by 8.4% last year to reach their highest level since November 1991.
- Financial Times 03/01/96 page 7
- The Daily Telegraph 03/01/96 page 22
