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Tue 28 Feb 2012
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Value of social housing construction projects falls
Tue 13 Jul 2010
The value of social housing schemes starting on site between April and June 2010 dropped this year, new figures have revealed.
Statistics in the latest Glenigan Index indicated that their value is 40 per cent less than it was during the same period of 2009.
Allan Wilen, economics director at Glenigan, said this shows that social housing starts are likely to remain under pressure during the next few months.
This coincided with a slight drop in the value of private housing site starts.
Mr Wilen said the two per cent decline shows how fragile the recovery in the market is at the moment.
However, he added that there could be a "renewed recovery" in private housing starts later this year, as housebuilders will aim to make the most of improving market conditions.
The figures came out at the same time as estimates from PricewaterhouseCoopers, which suggest there is a 50 per cent chance that by 2020, house prices in Britain may still be short of the amount recorded three years ago.
