‘New construction figures show strengthening housing output’ – new Lovell MD in Scotland

18th, May

Lovell has welcomed latest UK construction output figures*, released on 11 May 2017 by the Office for National Statistics, as showing continued strengthening performance in house building in Scotland and throughout the UK.

Stephen ProfiliCommenting on the figures, recently appointed regional Managing Director for Lovell in Scotland Stephen Profili said:

“2016 was a good year for the house building sector in Scotland with public and private sector output both up year-on-year, as was repair and maintenance activity in the housing sector.

“For its part, Lovell built 277 open market and affordable homes in Scotland last year. These new figures for March 2017 show promising performance for the industry during the first quarter of 2017 – and the housing sector in particular is continuing to perform strongly, demonstrating an ongoing recovery from the 2008 recession.

“Lovell is gearing up for a busy year with a strong pipeline of projects across central Scotland approaching completion and ready to launch for sale in the coming months and a number of others entering the construction phase.

“Working with a range of local partners, we expect to deliver approx. 450 units of new housing during 2017 including around 400 affordable homes, making an important contribution to the Scottish Government’s target to build 50,000 new affordable homes by 2021.”

 

*The new figures show a substantial rise in new housing output across the UK during the first three months of 2017, compared to the same period of 2016 with the value of public sector new housing output up 11% to £1.29 billion, private sector new housing output up 6% to £7.91 billion and housing repair and maintenance up 5% to £7.01 billion.