Survey: 1 in 3 uncertain of COVID recovery
A new survey conducted by Building magazine has found that, despite signs of recovery in the housing market, over a third (36 per cent) of senior managers in the housebuilding sector have made recent redundancies, and a further third say they do not know if their business will be able to make a quick recovery form the coronavirus crisis.
The survey also found that, for one in 20 firms, the pandemic had “put the whole future in doubt”. Twenty eight per cent said it would significantly impact revenue and profit and that “rapid recovery was uncertain”.
A further 6 per cent said the impact had been “profound” and had “challenged the ongoing viability of the business”.
Dave Sheridan, executive chair of modular housebuilder Ilke, said to Building: “The government’s ’build, build, build’ message has made clear it will do what it takes [to support the industry], and now we have had the announcement of a vaccine – it has all been stimulating the market.”