‘We have had to reassess almost everything’ – Housebuilder restructures as costs rise 37% against 19% house price growth
A comprehensive restructuring at Acorn Property Group, the company behind the redevelopment of Bristol Zoo Gardens, follows what the company describes as a fundamental breakdown in the relationship between construction costs and house prices.
The housebuilder, which has been pressing ahead with expansion across the South West, says UK building costs have risen 37% since November 2020 while house prices increased just 19% — an 18-percentage-point gap that has eroded development margins across the industry.
The company has compl... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
