Forecaster says housing starts will nosedive 40% next year

By Joey Gardiner2022-10-10T11:44:00

Source: Shutterstock

Capital Economics predicts drop will come amid steep house price falls as mortgage rates rise

Housing starts are predicted to fall by nearly 40% next year, according to revised forecasts produced by Capital Economics in the wake of the government’s controversial ‘growth plan’.

The research house said that UK housing starts were now likely to fall from a predicted 178,000 homes this year, to just 110,000 next year, on the back of an 13.6% fall in “real” house prices across 2023.

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