Builders stopped building during the traditional builders holidays? I am shocked.
Doesn’t this happen every year Jul/Aug?
>The pace of reduction in housing activity accelerated sharply over the month, with civil engineering activity also down at a rapid pace.
>Although commercial activity also fell, the rate of contraction was less pronounced than elsewhere.
Anecdotally, issues around private residential builds where either the build is halted or the bank refuses further drawdown due in the increased cost of the project were being talked about a few months ago. Larger projects should still be going ahead, but even though such reports are anecdotal, empty sites not being moved forwards is a worrying indicator. Ideally you don’t want any interruption in completing a project as delays introduce unwanted costs.
Water is wet. Summer always has a drop off
Take with a pinch of salt that BNP focuses on commercial real estate, I’d imagine that building activity in the residential sector hasn’t slowed down as much if at all.
I mean who would want to work during the period of probably the hottest time of the year?
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Builders stopped building during the traditional builders holidays? I am shocked.
Doesn’t this happen every year Jul/Aug?
>The pace of reduction in housing activity accelerated sharply over the month, with civil engineering activity also down at a rapid pace.
>Although commercial activity also fell, the rate of contraction was less pronounced than elsewhere.
Anecdotally, issues around private residential builds where either the build is halted or the bank refuses further drawdown due in the increased cost of the project were being talked about a few months ago. Larger projects should still be going ahead, but even though such reports are anecdotal, empty sites not being moved forwards is a worrying indicator. Ideally you don’t want any interruption in completing a project as delays introduce unwanted costs.
Water is wet. Summer always has a drop off
Take with a pinch of salt that BNP focuses on commercial real estate, I’d imagine that building activity in the residential sector hasn’t slowed down as much if at all.
I mean who would want to work during the period of probably the hottest time of the year?
During the holidays is it?