American Home Building Rises
According to a recent BBC article, official figures suggest new home building in America have risen sharply over the last couple of months during 2011.
Image sourced from: Custom Home Builders Directory
The U.S Department of Housing and Urban Development, released a survey which records when work begins on new flats or houses, have shown a rise of 9.3% from 627,000 to 685,000 in developments compared with the revised October 2011 estimate and 24.3% rise compared to November 2010.
Building permits have also risen by 5.7% from 644,000 to 681,000, the most issued since March 2010.
Analysts are feeling very positive about the news of this, however remain slightly cautious.
Paul Diggle at Capital Economics said “US housing starts rose strongly in November, building on the grains seen since the start of the year.
By historical standards, homebuilding activity is still very depressed, but at least it appears to be on the established upward trend.”
However, there have been suggestions that it was too early to read a recovery into the figures.
Charlie Campell at Liberum Capital said ” The survey is a helpful datapoint for building materials although activity tends to tail off this time of year, so we need to see a good spring before being sure that the housing market is turning.”
Even though the UK has not started to see positive trends like this so far, it’s still great news to hear within the construction industry!
Just like those lyrics out of a famous Take That song, “Things can only get better!”
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