A new market report, that is the largest of its kind, has revealed the self and custom build industry is growing at a rate of 6.25 per cent year-on-year, marking its third consecutive annual spike.
At its current pace, the sector is estimated to reach 16,500 housing completions by 2020.
According to the Self & Custom Build Market Report commissioned and generated by industry info provider Homebuilding & Renovating, the three-year forecast implies an industry growth of 41 per cent and an average industry value of £6 billion, which reinforces the sector’s strategic role as a contributor to the Government’s housebuilding targets, by offering choice and quality for the wider public.
The release of these figures marks the most comprehensive analysis of the current and potential industry ever produced from associated publicly-available data. Supported by the National Custom and Self Build Association (NaCSBA), the report forms a go-to reference for the market. It offers insightful reading for policymakers at national and local level, and marketers/companies either already in the sector or looking to expand their activity.
James Orme, one of its contributors, alongside Michael Holmes and Brian Greene, said: “As a result of the market increase and other factors – not least the reluctance of speculative housebuilders to differ their standard offerings – suppliers of products and services are increasingly finding the self and custom build market an interesting opportunity. Without discerning information, both of these stakeholders are likely to miss their key goals in the years to come. We compiled this report to facilitate access to the heart of the industry and contribute to them reaching a new milestone in their growth.”
Mr Holmes added: “The analysis in this report contains details including how, where and why people build their own homes and what they put in them; and, with the maximum possible authority, establishes the shape of the market in the coming years. We believe that this is the best attempt yet at providing a single reference for information on the custom and self build market. It will allow us and other members of the industry to better understand the motivations, hurdles and aspirations of self builders themselves and to understand activity in the market, down to a level previously undiscovered in terms of product choices and spend.”
The main source of data that this report is based on is an entirely new comprehensive consumer survey of 500 self-builders who had either recently completed or are about to complete their project. This research was conducted via an online survey in 2017.
The overall analysis was compiled based on statistics from HMRC, DCLG and more.
Via Scottish Construction Now. Read the original article here.