According to a new survey conducted by the Federation of Master Builders (FMB), most house builders have yet to see any significant changes to their project pipelines in the wake of Brexit. In total, 69% of firms reported that they have not seen any changes to their business resulting from the referendum.
Brian Berry, Chief Executive of the FMB, says: “Despite some fears that the referendum result might put new projects on hold, the overwhelming majority of SME house builders are reporting that no decisions have yet been influenced by the referendum result. This matches the view expressed by many small construction firms that so far, the market appears to suggest that it’s ‘business as usual’. Only one quarter of small house builders have seen any negative effect on their projects from the Brexit decision, and most of these are the result of delayed decisions rather than actual project cancellations.”
Berry continued: “Brexit aside, we should not paint an overly rosy picture of the situation facing SME house builders. The barriers to building that existed prior to the referendum are still hindering delivery, and as the housing crisis continues to be a pressing concern, the need to empower smaller developers must be a priority for May’s Government. To this end, it’s worth noting that more than half of SME house builders state that the removal of unnecessary red tape should be the most important consideration for the new Government as they begin to negotiate the UK’s exit from the EU.”
