Newspaper article The Journal (Newcastle, England)

House Building on Rise Again in North East

Newspaper article The Journal (Newcastle, England)

House Building on Rise Again in North East

Article excerpt

House building in the North East is continuing to rebound with chartered surveyors across the region reporting growth, says the latest RICS (Royal Institution of Chartered Surveyors) construction market survey.

During the third quarter of the year, a net balance of 34% more respondents reported rises in privately-funded housing projects compared with the previous period, from an increase of 30% in the second quarter.

Significantly, across the country, this is the first time that every region has reported growth since the beginning of the market crash six years ago and demonstrates that the long-awaited upturn in numbers of new homes may finally be underway.

Furthermore, the overall construction sector in the North East saw a welcome boost during the three months to September, with workloads rising at their strongest rate since the fourth quarter of 2004 - a net balance of an increase of 31%.

Alongside housebuilding, this growth was largely driven by private commercial developments as funding finally begins to filter through to actual shovels in the ground. This will prove welcome news to an economy that has seen construction struggle for some time.

One North East developer reporting increased visitor levels and sales at its developments in the region - 22 in all - is Barratt Homes.

Managing director Mike Roberts said: "We are starting to see signs of recovery in the housing market. Customer interest is growing and there is a considerable amount of pent up demand.

"We are opening new sites across the region to help meet that and in recent months we have started work on nine new Barratt and David Wilson developments for more than 750 new homes at Burnopfield, Consett, Hebburn, Killingworth, Lemington, Nunthorpe, Scotswood, Stockton and Thornaby. These will support around 1,500 jobs."

The Government's Help to Buy scheme has generated much demand for new-build homes. …

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