Residential Building Construction in the UK - Industry Market Research Report

Slow recovery: Challenging market conditions in 2023-24 are limiting revenue growth

Residential building contractors are contingent on the propensity of property developers to invest in new ventures; movements in property prices; government schemes intended to boost the housing supply; and underlying sentiment in the housing market. Revenue expanded prior to the pandemic, with the support of government programmes and new funding to induce land development and housebuilding activity mitigating the effects of market uncertainties stemming from the Brexit vote. Revenue is forecast to decline at a compound annual rate of 2.9% to £80.6 billion over the five years through 2023-24.

This industry includes contractors undertaking new work, remodelling, renovations and repairs to residential buildings, including single-family houses, high-rise apartment blocks and housing association and local authority housing. Work can be carried out on a firm’s own account or on a fee or contract basis, and portions of the work or all practical work can be subcontracted out.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.