Azfar Rizvi, Commercial Director, Corporate & Commercial Lending at Aldermore, said: “Today’s ONS figures, showing monthly construction output rose by 0.8% but declined by 0.7% over the third quarter, paint a mixed picture for a sector still facing considerable pressures. While the monthly increase is encouraging, the quarterly decline highlights the challenges in sustaining growth, particularly when the country urgently needs to accelerate housebuilding.”
“For SME housebuilders, the challenges of getting new developments off the ground remain significant. Lengthy planning processes, high material costs, and borrowing pressures continue to make it difficult for smaller developers to commit to new projects, particularly while uncertainty around buyer demand persists.
“The Government’s recent Budget commitments to support first-time buyers are a positive step, but increasing housing supply must remain central to these efforts. Supporting demand alone will not solve the country’s housing shortage without action to help developers build. At Aldermore, we’re committed to supporting our customers with tailored development finance that suits their individual needs, which requires us to do more in trying to find bespoke solutions that are necessary for housebuilders to navigate the most persistent and difficult challenges. It’s time to create greater positive momentum across the market.”
