House-building weakness continues

House-building weakness continues

Private sector housing starts in January fell to their lowest level since November 1992. They declined to 9,400 from 10,900 in December, and were 16 per cent lower than a year earlier. Total housing starts, including local authority figures, were 11,100 compared with 14,300 a year earlier. Completions were up to 16,600 compared with 15,300. The figures confirmed the continuing weakness of house-building, one of the areas of the housing market that has yet to show any sign of recovery. Economists said bad weather and low confidence among builders explained the further decline.