AUDIO NEWS: Construction top insolvency list and planning changes not enough to kickstart housing market
Posted: Sunday, January 5th, 2025
Construction once again topped the list of insolvency stats in November. Figures from the Insolvency Service indicated that more 4,200 construction firms collapsed between January and the end of November. The building industry accounted for 17% of all insolvencies in England and Wales. Since the end of pandemic-era insolvency protections in October 2021, over 4,000 building firms have gone bust each year. Although the number of industry insolvencies is lower in 2024, the sector is still facing issues of high costs and project disruption. Tim Copper, president of R3, said the ongoing decline in construction output was partly down to a slowdown in repair and maintenance work.” --- The government’s recent changes to the National Planning Policy Framework (NPPF) won’t be enough to kick start the housebuilding market – that’s according to Noble Francis, economics director at the Construction Products Association. With economic growth expected to be slower and inflation higher, market demand will remain low and costs high, creating major challenges for many builders, warned Francis in a recent LinkedIn post. --- An apprentice from Pen Llyn has been crowned the UK’s top young plasterer. Harry Sutherland took home the gold medal at the 2024 National SkillBuild. The 21-year-old spread, who has just completed his Level 2 diploma, fought off stiff competition from seven other apprentices in the final. He told his local paper he was delighted to bring home the gold. --- To listen to the construction news please click below
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