Declining demand in building sector

The total number of housing completions in the UK has declined considerably. According to estimates from the AMA, a British market research company, the 2008 total of 176 400 was 20.2 per cent down on the previous year’s result. For 2009 the market researchers are basing their forecasts on a continuation of the decline to a total of 113 000 completions. However, the market is expected to recover again in early 2010 at the latest, with the number of completions rising to 140 000 by the end of that year. The 2007 level of 221 000 housing completions should then be reached once more in the year 2013.