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Fernando de Querol Cumbrera
Research expert covering construction, loans, leasing, savings, and debt
Get in touch with us nowHousing and non-housing repair and maintenance were the segments with the largest construction output in the United Kingdom in 2023. Those two sectors together amounted to over 41 percent of the industry. Meanwhile, the output of new private housing construction amounted to 19 percent. The output volume of infrastructure grew during the past years, surpassing the construction of commercial buildings. A look at the construction output index for new private housing shows that output has been increasing following the years of the 2008 recession, and had a strong recovery after the COVID-19 pandemic.
Construction GVA increasing
An increased output also translated into a growing contribution to the gross domestic product (GDP). In the third quarter of 2023, the construction industry had a gross value added of nearly 37 billion British pounds. That value reached a low point during the start of the COVID-19 pandemic. In comparison, the overall GDP of the United Kingdom was valued at over 2.27 trillion British pounds.
Private housing construction expected to decline
The output of the private housing sector was forecast to decline by over six percent in 2024. However, that segment's output was expected to grow by 10.8 percent in the following year. The average price of houses in the UK has remained relatively stable in 2023, after a period of high growth.
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Overview
Housebuilding challenges
Companies
Revenue of largest housebuilders
Housing starts
Housing completions
Further related statistics
* For commercial use only
Basic Account
Starter Account
The statistic on this page is a Premium Statistic and is included in this account.
Professional Account
1 All prices do not include sales tax. The account requires an annual contract and will renew after one year to the regular list price.