first_imgHome » News » Land & New Homes » Housebuilding stalls in March – PMI previous nextLand & New HomesHousebuilding stalls in March – PMIThe Negotiator13th May 20160614 Views Growth in construction of new homes in Britain fell to its lowest level in three years in March, the latest figures show.While the pace of growth picked up in commercial property and civil engineering, the Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) gauge of housing construction activity plunged to its lowest level since January 2013.Greater uncertainty about the business outlook appears to have weighed on overall construction demand so far in 2016, with survey respondents citing cautious client spending patterns and a reduced willingness to commit to new projects.“Residential building has seen the greatest loss of momentum through the first quarter of 2016, which is a surprising reversal of fortunes given strong market fundamentals and its clear outperformance over the past three years,” Tim Moore, Senior Economist at Markit, said.housebuilding new homes commercial properties construction May 13, 2016The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img