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Table of Contents

Executive Summary

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TABLE OF CONTENTS

Executive Summary

Market Definition

INTRODUCTION

PRODUCT TYPES

MARKET POSITION

MARKET TRENDS

Figure 1: New Housebuilding in Great Britain ( percent of new work), 1990-1996

Table 1: New Housebuilding and Total New Construction Output in Great Britain at Current Prices (£m), 1990-1996

Figure 2: New Housebuilding in Great Britain at Current Prices (£m), 1990-1996

Table 2: House and Flat Completions in England (000), 1990-1996

Table 3: Dwelling Completions in England by Type, 1990-1996

Table 4: Type of Dwelling Starts in Great Britain ( percent), 1990-1995

Figure 3: Dwelling Completions in England by Region ( percent), 1995

Market Size

INTRODUCTION

THE TOTAL MARKET

Table 5: Housing Output in Great Britain at Current and Constant 1990 Prices (£m), 1990-1996

Figure 4: New Housebuilding Output in Great Britain (£m), 1990-1996

Table 6: Housing Orders in Great Britain at Current and Constant 1990 Prices (£m), 1990-1996

Table 7: Housing Starts and Completions in Great Britain (000), 1990-1996

Figure 5: Housing Starts and Completions in Great Britain (000), 1990-1996

Industry Background

INTRODUCTION

INDUSTRY STRUCTURE

EMPLOYMENT

PROFESSIONAL AND TRADE ORGANISATIONS

Table 8: New Housing Output and The Economy at Current Prices (£m and £bn), 1990-1996

Table 9: New Housing Output and Repair and Maintenance at Current Prices (£m), 1990-1996

Table 10: Number of General Builders in Great Britain by Number of Employees (number of firms), 1990-1994

Table 11: Housebuilders in Great Britain (number of builders registered with NHBC), 1990-1995

Table 12: Number of General Builders in Great Britain and Value of Work Done (number and £m), 1994

Table 13: Completions and Contractors in Great Britain by Region, (number and percent), 1994

Table 14: Employment in the Construction Industry (000), 1990-1995

Table 15: Average Weekly, Gross Full-Time Earnings (£), 1990-1995

Competitor Analysis

INTRODUCTION

THE MARKETPLACE

MARKET LEADERS

ADVERTISING AND PROMOTION

Table 16: Recent Housing Deals, 1995/1996

Table 17: Housebuilders ( percent of starts and number), 1990-1995

Table 18: Leading Housebuilders in Great Britain, 1996

Table 19: Housebuilders' Main Media Advertising Expenditure (£000), 12 Months to September 1995 and 1996

Strengths, Weaknesses, Opportunities and Threats (SWOT)

STRENGTHS

WEAKNESSES

OPPORTUNITIES

THREATS

Buying Behaviour

INTRODUCTION

MARKET BACKGROUND

THE BUYERS

SOURCES OF FINANCE

GEOGRAPHIC TRENDS

Table 20: Key Housing Market Indicators, 1990-1996

Table 21: Housing Affordability Indicators (index 1990=100), 1990-1996

Table 22: Age Distribution of Borrowers ( percent of UK building society mortgages for new houses), 1990-1995

Table 23: Sources of UK Mortgage Lending (000 of loans approved), 1990-1995

Table 24: Sources of Mortgage Lending for New Houses (000 of loans approved), 1990-1995

Table 25: Building Society Loans by Type of Dwelling ( percent of advances completed for new homes), 1990-1995

Table 26: Building Society Advances by Region ( percent of total UK advances and new as percent of total advances in region), 1992-1995

Table 27: Regional Average New House Prices (£000), 1990-1996

Outside Suppliers to the Industry

INTRODUCTION

MATERIAL SUPPLIES

LAND SALES

Table 28: Deliveries of Basic Building Materials, 1990-1995

Table 29: Land Sales and Prices in England and Wales (hectares and £000 per hectare), 1990-1995

Current Issues

GENERAL ECONOMIC CONDITIONS

INFLATION

LAND PRICES AND AVAILABILITY

BUILDING MATERIAL COSTS

PROFIT MARGINS

PUBLIC HOUSING

Forecasts

ECONOMIC OUTLOOK

FORECAST PRIVATE HOUSING, 1997 TO 1999

FORECAST PUBLIC HOUSING, 1997 TO 1999

LONGER-TERM INFLUENCES

Table 30: Key Economic Variables (annual percent change), 1993-1999

Table 31: Forecast Private Housebuilding (annual percent change and 000), 1997-1999

Table 32: Forecast Public Housebuilding Starts and Completions (000), 1997-1999

Company Profiles

INTRODUCTION

DEFINITIONS

FURTHER INFORMATION

Further Sources

ASSOCIATIONS

PERIODICALS

DIRECTORIES

GENERAL SOURCES

HBI UK INFORMATION SOURCES

GOVERNMENT PUBLICATIONS

OTHER SOURCES

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EXECUTIVE SUMMARY

The new housebuilding market in Great Britain was valued at £7.13bn in 1995. The estimated industry size of £7.08bn in 1996 compares with a smaller size of £6.08bn in 1992, when the industry was at the trough of recession. Thus, between 1992 and 1996, new housebuilding has grown on average by some 6 percent per annum. In terms of the number of units, Key Note estimates that total housing starts in Great Britain were 167,500 in 1996, up from 167,200 in 1995. Completions were estimated at 182,000 in 1996.

Within the above totals, there are the two main markets of public and private housing. Private housing is by far the larger, with an estimated value of £5.56bn in 1996, while public housing was only estimated at £1.52bn in that year.

Looking beyond the above broad sectors, the split of dwellings built includes terraced houses, detached houses, semi-detached houses, bungalows, and flats and maisonettes. In 1995, these categories accounted for the following percentage of starts: terraced houses (18 percent), semi-detached houses (22 percent), detached houses (37 percent), bungalows (6 percent) and flats and maisonettes (17 percent). Over the past 5 years, there has been a rise in the proportion of semi-detached and detached houses. In part, this has been due to falling prices, allowing many first-time buyers to enter the market at a higher level. In the late 1980s, all that most first-time buyers could afford were terraced houses or flats.

Following at least 6 years of stagnant demand, the housing market is at last coming out of recession and, having gone through a period of widespread restructuring, the housebuilding industry is better placed to profit from any upturn in demand. The most recent indicators show that house prices are rising fairly strongly, while overall economic conditions are more favourable than at any time this decade, with rising earnings, low inflation and relatively low interest rates providing an encouraging background for rising demand. However, the air of rising confidence is leading to steep land price rises, while tighter planning controls are hampering builders' efforts in securing land for development.

Over the next few years, the private housing market is expected to improve from a low of 134,000 starts in 1995, with their number rising to 161,000 in 1998. In the public sector, progress is expected to be hampered by tight Government funding, with starts unlikely to exceed 30,000 (down from the 1995 level of 33,000) by 1998.

Text © 1997 Key Note

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