AT ITS LOWEST LEVELCategory: Land + People
The number of new houses on which building work started in April was at its lowest level, on a seasonally adjusted basis, since the third quarter of last year, according to provisional Government figures issued yesterday.
The drop is mainly in the public sector, where from February to April starts were 14 per cent lower on an adjusted basis than in the previous three months.
While the drop in public-sector starts was expected, there are fears that private housebuilding activity will repeat last year’s pattern with a fall towards the second half of the year.
Taking the adjusted figures on a three-monthly basis, the total starts in February to April were 6 per cent down on the previous three months. Total completions were down 1 per cent.
(The Financial Times, May, 1976)