13 Jul

RICS: Government funding is helping housing construction

RICS: Government funding is helping housing construction

Government funding may be providing support for the housing industry and improving construction projects, it has been claimed.

In the opinion of the Royal Institution of Chartered Surveyors (RICS), house building firms appear to be "a little more cheery" due to the extra funding provided by the government.

However, the organisation also noted that these improvements will take time to establish themselves and things will "take time" to properly recover.

Simon Rubinsohn, chief economist at RICS, said that "2010 may look a little bit better" as there has been "an attempt to bring forward some of the plans".

According to the June Glenigan Index, government funding has helped to encourage a particular rise in the number of educational, health and social housing projects starting up in the UK.

This means that the year-on-year decline has been scaled back by around 20 per cent and there could be some stabilisation in the second half of the year.
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