UK construction salaries grow as first-time owners use help to buy scheme

Clay Technology magazine
,
16 Feb 2016

A round-up of figures affecting construction and related industries in the UK.

£44,628.46 the average 2015 annual salary for construction jobs, 

up from £40,496.08 in 2014

62,569 properties were purchased using a Help to Buy equity loan in the first 30 months of the scheme’s operation

First-time buyers accounted for 81% of total purchases under the Help to Buy equity loan scheme and the average purchase price was £217,999

The UK unemployment rate fell in the three months to October 2015, to 5.2%

Average weekly earnings across the UK economy increased year-on-year in October 2015 by 1.9% 

65,920 properties were purchased using a Help to Buy mortgage guarantee between 8 October 2013 and 30 September 2015

The average house price in December 2015 was £208,286

The value of mortgages approved for house purchase was 27% higher than a year ago and month-on-month increased by 0.7% 

18.8% increase on an annual basis to November 2015 of mortgages approved for house purchase

The number of loans for remortgaging in November 2015 increased year-on-year by 22.1% 

UK house prices rose by 1.7% in monthly terms in December and on an annual basis, prices were up 99.5% 

First-time buyers accounted for 79% of total purchases under the Help to Buy mortgage guarantee scheme and the average purchase price was £155,573

The construction index in November 2015 was 55.3, rising in December to 57.8 

Sources: CV-Library, Halifax, Bank of England, DCLG, HM Treasury, Markit/CIPS PMI, ONS