The Residential Building Construction industry has been through two very different periods over the past five years. At the start of the period, revenue dropped sharply as tight lending criteria and dwindling home equity made it difficult for many to obtain mortgages, meaning demand for housing dropped. The prices of those homes that did change hands were significantly lower than the industry had been used to. In this environment, many property developers stopped investing in the housing market, which hit demand for the industry's services and exacerbated the effect of poor sales figures.
This industry includes contractors undertaking new work, remodelling, renovations and repairs to residential buildings, including single-family houses, high-rise apartment blocks and housing association and local authority housing. Work can be carried out on a firm's own account or on a fee or contract basis, and portions of the work or even all the practical work can be subcontracted out.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.