Output to sink by 2% this year as inflation continues drag on housing work, CPA warns

By Tom Lowe2024-01-29T14:03:00

Newbuild housing and RMI sectors to both slump by 4% this year before recovering in 2025, according to new forecast

Construction output is set to slump by 2.1% this year due to falls in private housing newbuild work and repair, maintenance and improvement, according to the Construction Products Assocation (CPA).

The industry’s two biggest sectors have been hit by increasing mortgage rates and the cost of living crisis, both symptoms of high levels of inflation in recent years.

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