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BANK RATES BLAMED FOR CONSTRUCTION MARKET SLUMP STEVE TURNER, spokesman
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for the Home Builders Association, whose members construct 80% of new UK housing, says: "In short, no, things are not better.
"There are reports of raised interest levels, but until those convert to transactions, it won't help home construction.
"We still need greater mortgage availability. The Bank of England rate has not been the issue for some time, but rather the rates the banks are prepared to offer on the street."
The Construction Federation (CF), which represents major contractors in the public sector arena, says the outlook is still bleak, albeit that its last collated figures were for 04 2008.
"Public sector construction is a lagging indicator, because we go into recession slower due to ongoing projects and come out of it slower because of lengthy tendering processes," explains CF communications director Kurt Calder.
"Members tell us that forward planning and tendering opportunities are still significantly suppressed."