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NewsArticle-26-08-2010

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Private sector housing production halved

Today’s Scottish Government housing statistics illustrate the horrifying impact the economic downturn of the last two years has had on Scotland’s home building industry with a 47% fall in the number of private new homes completed over 2009/10 compared with 2007/08 and a 52% drop in the number of private new homes started over the same period.

Jonathan Fair, Chief Executive of industry body Homes for Scotland (right), said:

“Prior to the onset of the credit crunch, our industry built 20,000 private new homes each year and supported the employment of 100,000 people across the country.  Now both have essentially been halved and vital private sector investment in infrastructure and other key community facilities has severely diminished. 

“The industry has had to make huge readjustments but remains committed to providing the thousands of private new homes Scotland’s growing population needs and aspires to.  First, however, the UK Government must resolve the continuing difficulties surrounding mortgage lending.  If it doesn’t, the social and economic consequences will be dire.”

Ends

Enquiries to:
Jennifer Kennedy, Homes for Scotland – 0131 455 8350 / 07763 240694

Notes to Editors:

Homes for Scotland represents the country’s home building industry which, prior to the onset of the credit crunch,:

-  was the largest source of private investment in Scotland and the largest user of the planning system

- built 20,000 new private homes each year, contributed £6bn to the economy and supported the employment of 100,000 people (2007 figures)

As a result of the economic downturn, housing supply is now touching all time lows.  This is having far-reaching and long-term social and economic consequences for Scotland's population.

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