Housebuilding in rude health but Brexit fears remain

Scotland's housebuilding sector is 'stronger and more resilient than ever' despite political and economic pressures, a report today suggests.

Grant Thornton said Brexit clouds continue to hang over the housebuilding sector. Picture: Contributed

Grant Thornton, the accountancy firm, said the industry had bounced back from the financial crash in 2008 which triggered thousands of job losses and stalled projects.

• READ MORE: Edinburgh’s Miller Homes changes hands in £655m deal

The firm credited consolidation, increased collaboration and a focus on innovation and skills development for helping enable a cautiously optimistic outlook across the industry in the short to medium term.

However, it warned of concerns that Brexit could lead to a downturn in the market and said the Scottish Government may struggle to reach its target of achieving 50,000 affordable homes by 2021.

200 Voices: find out more about the people who have shaped Scotland

Chris Smith, property and construction expert at Grant Thornton in Scotland, said: “Brexit undoubtedly raises some fears that a nervous consumer market could lead to a dip in sales.”

Click here to ‘Like’ The Scotsman Business on Facebook