The latest research from the Federation of Master Builders (FMB) has revealed that two thirds of SME house builders have not yet seen any significant changes to their project pipelines since the Brexit vote.
The survey was the first of its kind to be carried out since the EU referendum and showed that 69% of businesses are yet to see any significant changes to their businesses since the referendum outcome.
Chief Executive of the FMB, Brian Berry, said that SME house building firms are crucially important to achieving the government’s ambition to construct one million homes in the next four years, which means Ministers will no doubt be bolstered by the initial findings post Brexit.
Berry continued: “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 also said that aside from Brexit, we should not be painting an overly rosy picture of the situation that SME house builders face.
He believes that the barriers to building that existed before 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.
He concluded: “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.”