The second quarter of 2024 has brought out the sunshine after a wet Q1, however in terms of volumes there’s no excitement, rather the market could be described as stable. That said, House Building is a significant contributor to the UK economy, and with the new government’s ambitions of delivering 1.5m homes over the next 5 years, these are (or seem to be) exciting times.

The focus on the planning system, which I am sure all housebuilders will welcome, is a well needed boost, and the speed of change will be closely followed. Along with support for SME’s, affordable housing, and the environmental agenda, the government will have its work cut out.

The mortgage rate is forecast to go down again in 2024. Although further cuts may take longer to arrive than liked, they are, as the CPA puts it, the catalysts for a recovery in the two largest sectors of construction, private housing and private housing RMI, and they will help support any future uplift in house sales.

The new building regulations now offer home buyers a distinctive choice in terms of energy efficiency compared to older properties. New home buyers are more likely to put the environment as the keystone of their decision making.

With a continuing and severe skills shortage in construction, destined to get worse in the coming years as an older cohort of the workforce retires without being replaced, opportunities to meet demand within manufacturing will rely on continued investment in automation, something we have been doing for years.

Innovation in joined up forecasting, stock ranging etc. working with our merchants in best partnerships to be prepared for the builders’ demands will be critical for a modern supply chain.

We have to be forward thinking and optimistic for the future, tinged with a fair degree of patience.