Britain’s property obsession spreads into construction

02 July 2007
Britons’ distraction with the property market has spilled over into the construction business, as an increasing number of people start their own ventures into the housing world, according to figures from Barclays bank.

Barclays’ start-up figures for the last quarter (the number of new businesses started), has shown that 17,500 people embarked on a new career in the construction sector during the first quarter of 2007, the highest quarterly volume since Barclays began tracking the individual business sector in 2003.

The number of construction start-ups is made more noticeable by the fall of all other business sectors; overall, start-ups increased 6% compared to the same quarter in 2006.

John Davis, marketing director for local business at Barclays, said "The British public have always been big DIYers with a record £10.7 billion spent last year, but now many of these same people are taking that interest and turning it into a business, whether they are plasterers or property developers.

“There doesn’t seem to be any let up on our national property obsession and with getting up the property ladder continuing to be our number on collective goal in life. it doesn’t seem likely that there will be a shortage of construction entrepreneurs in the future.”

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