United Kingdom Construction Market Overview
United Kingdom's residential construction market is currently contracting, with housing starts of 155K in 2023 — 4% below the 10-year average of 161K.
The country's recorded peak was 187K units in 2021. Current activity is -17% below that peak.
Among the 21 OECD countries tracked, United Kingdom ranks #7 by total housing starts. Year-over-year change is -9.9%, reflecting declining permits and reduced construction activity.
For contractors working in United Kingdom: A contracting market may create opportunities to negotiate better material pricing or lock in subcontractor rates.