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Consumer affairs watchdog the Office of Fair Trading (OFT) has begun an investigation into the £20 billion UK house-building industry over concerns that the sector is failing to deliver for consumers.
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Boom times in the property and construction sectors look set to continue, as the number of single-person households in the UK feeds further increases in the number of households in England.
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An almost tangible sense of relief radiated from the property sector last month, following the Bank of England monetary policy committee’s seven-to-two vote to keep interest rates stable.
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Burgeoning domestic demand raised total order books for manufactured goods to their highest levels in a dozen years in February, according to the latest industrial trends survey from the CBI.
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A mixture of caution and blind optimism litters the published thoughts of property market watchers.
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Construction industry output edged ahead by five per cent to £110 billion in the first half of 2006, notes Altium Securities.
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According to data from the Bank of England, mortgage lending surged to its highest levels in two and a half years in May at a shade over £9.3 billion, beating analyst forecasts of £9 billion and giving further indications that the housing market is in robust health.
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House price inflation is increasing at its highest rate for over a year and is expected to continue rising, clearly good news for all those investing in the sector
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