- 'Bleak' outlook for construction supply chain
- Major government projects slowing, adding to residential slump
The 11-year bull run in the UK’s housing market is formally over, according to new Land Registry data, which should have come as little surprise to anyone. Yet while housebuilders have endured a difficult 12 months, the building materials and merchant companies are about to enter their third successive year of tough trading.
The slump began in the back half of 2021, as soaring materials costs bit into demand, causing the unravelling of the pandemic-induced DIY boom. This time 12 months ago, many thought that by now the situation would be looking up, particularly as they were facing easier comparative periods, said Flor O’Donoghue, an analyst at stockbroker Davy.