Experts warned the UK faces a “chronic lack of supply” for housing today after new data showed housebuilding fell at a rate only seen on the onset of the Covid-19 pandemic and the late 2000s global financial crisis.
The S&P Global / CIPS UK Construction PMI for residential work was just 39.6 in June, with any figure below 50 representing a decline. That was even lower than May’s figure, which was itself the lowest since the spring of 2020, and the lowest for a month not affected by Covid-19 since 2009.
