Brickonomics

House prices on the increase, but so too are the questions marks over the housing market

The big news is that for the first time in two years more surveyors in Britain said prices rose than said they fell, according to the latest RICS housing market survey. The big question is whether this is the start...

Posted by Brian on September 14, 2009 11:54 PM

Recession deeper than we thought says Bank of England

The recession is proving to be deeper than the Bank of England expected when it previous produced an inflation report in May. That in part explains the extension of the quantitative easing programme that rather surprised many commentators. I have...

Posted by Brian on August 12, 2009 11:44 AM

CIPS talk of optimism is baffling

The CIPS appeared to be putting a rather positive spin on its July figures for construction activity on the back of a slowdown in the pace of decline and swelling optimism among its respondents. The press release reads: "Optimism about...

Posted by Brian on August 4, 2009 10:43 AM

Nationwide ponders the unthinkable: A house price rise for 2009

The latest figures from Nationwide show a rise in prices for the third month on the trot, which puts the price of an average house at 1.3% more than at the start of the year. This sign of buoyancy is...

Posted by Brian on July 30, 2009 10:52 AM

Seven years of construction growth wiped out say GDP figures

The latest GDP figures showed a marked slowdown in the rate of collapse of the economy. But the drop of 0.8% was significantly more than economists were expecting, if the mood judged by Reuters gives a fair assessment. The median...

Posted by Brian on July 24, 2009 10:22 AM

Latest GDP figures confirm plunging construction workload

The update on the preliminary GDP figures for the UK's economic growth confirm construction activity was down in the first quarter by 8.6% compared with a year earlier. This puts industry workload on a level with that last seen in...

Posted by Brian on May 22, 2009 10:30 AM

Construction collapse was faster than first thought, say ONS statisticians

Construction output fell a further 2.4% in the first quarter of this year, according to estimates plugged into the official data used to calculate the UK gross domestic product. The figures for total output of the UK economy in the...

Posted by Brian on April 24, 2009 10:47 AM

Chancellor provides optimism in the gloom...and that's what's worrying

The direct measures aimed at construction-related activities and businesses in the 2009 Budget will be welcomed in some quarters, mainly among the house builders. Though I am not so sure I would go with the instant view from the surveyors'...

Posted by Brian on April 22, 2009 2:41 PM

Construction job vacancies evaporate as recession bites

The latest batch of employment figures provides little comfort to the thousands of construction workers who are now looking for jobs, as vacancies in the industry have plunged deeper. The figures show that in the three months to March this...

Posted by Brian on April 22, 2009 10:04 AM

Recovery soon for construction?

The torrent of economic good news gushing from economists and think tanks is almost overwhelming. Hell's teeth it is a boost to confidence. But does this mean that the recovery is in sight for construction?...

Posted by Brian on April 20, 2009 1:45 PM

Homeowners turn their backs on using their homes as a bank

I was intrigued by the response from the surveyors' body RICS to the latest Bank of England figures for Housing Equity Withdrawal. The figures show a continuation in the rapid repayment of housing debt, as the graph below shows, and...

Posted by Brian on April 1, 2009 5:38 PM

Construction job vacancies collapse

Record redundancies may be the headline in today's news bulletins and tomorrow's papers as the ranks of the unemployed creep towards 2 million. But in the detail of today's labour market figures of more concern to the thousands of redundant...

Posted by Brian on January 21, 2009 10:49 AM

Worst six months for construction new orders since September 1995

The latest figures for new orders appear to have taken a turn for the even worse in November after already having fallen off a cliff in May last year. The 12 month rolling total of orders won in volume terms...

Posted by Brian on January 15, 2009 11:00 AM

The beast of inflation may be in retreat, but it can still bite

As if the confusion over the credit crunch's causes and effects is not enough, we now have the related confusion over inflation. What is a good level for inflation to fall to if deflation is a fear? We have just...

Posted by Brian on December 16, 2008 12:34 PM

Is the UK plunging into the worst recession in 60 years?

I am frequently accused of being too gloomy, which is upsetting to a sensitive person who likes to see the sunny side of things. My riposte is that while I might have appeared a bit glum when commenting on the...

Posted by Brian on December 9, 2008 11:37 AM

No Christmas present for estate agents or the economy in RICS figures

Two bits of good news for house sellers and builders in the latest housing market survey by the surveyors' body RICS. The graph showing the proportion of surveyors reporting prices falls appears to have bottomed out. And the graph showing...

Posted by Brian on December 9, 2008 9:44 AM

A decade of pay growth and shortening hours for the construction workforce

Whatever the current worries facing those working in construction, they can reflect on the past 10 years with satisfaction when it comes to pay and hours worked. Pay has risen far faster than for most other sectors and the number...

Posted by Brian on November 14, 2008 11:57 AM

Is this the worst time to be "more relaxed"?

I am sure I will not be the only one who draws this parallel. But I suspect it is a classic illustration of why credibility matters in both politics and economics. George Bush on the US economy, October 2008: "I...

Posted by Brian on October 21, 2008 9:02 AM

Spend big, yes, but spend wisely on construction Mr Darling

Just over a week ago I had lunch with three economists, all with more than a passing interest in construction. Oddly, perhaps, for a group of economist there seemed to be a consensus, well at least on one topic. If...

Posted by Brian on October 19, 2008 8:42 PM

Phew - thank you Mr Darling. Now we can get on and fix the problems

For me tracking the Government's handling of the economic crisis over the past few months has been a bit like watching a sick gag in a sketch show where a child hops into the kitchen with one bloodied leg severed...

Posted by Brian on August 30, 2008 9:26 AM