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UK Needs To Build Its Way Out Of Recession

UK Needs To Build Its Way Out Of Recession

The UK Government must do more to help stimulate the country’s economic growth, to boost the supply of new residential properties and build its way out of a potential triple-dip recession.

This is the view of the Federation of Master Builders (FMB), as the latest ONS GDP figures released showed output in the sector rose by just 0.3% in the final months of 2012.

The FMB point out that overall the UK economy shrank by 0.3%, keeping the country still struggling to escape the grip of recession, while there was a small increase in construction output.

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UK Property Prices Increase

UK Property Prices Increase

According to one of the UK’s leading mortgage lenders, residential property prices in the UK rose by more than economists had expected in January putting a halt to the annual decline.

Nationwide say that residential property prices in the UK actually increased by 0.5% in January 2013, a further sign that the two years of static residential property prices and historically low property sales across the UK may soon be coming to an end.

Nationwide have published data that states that the average residential property price in the UK is now £162,245 (GBP).

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