Brick producers have begun to replenish their stocks after demands for supplies left reserves depleted…
The construction sector was dealt a heavy blow during the recession. In a bid to stimulate growth and increase development the government implemented schemes such as the government’s Help to Buy. While this helped to get the country building again it also placed increasing pressure on the brick industry, which found it did not have enough reserves to meet the growing demands from the sector.
To put the crisis in perspective, brick stock levels stood at more than one billion in 2009. This fell to 500 million in 2012, before finally reaching a low of 323 million in October last year. As the house building sector continued to develop, the pressure on manufacturers of bricks increased.
However, the latest figures published by the Office for National Statistics have revealed good news. After a slump the brick manufacturing sector has started to bounce back, with production seeing a small growth over the last year.
CEO of the Brick Development Association Simon Hay said: “The brick industry has reacted swiftly in order to meet new demand by increasing brick production by nearly 7 per cent in comparison to the same period in 2014, a tremendous effort by a capital-intensive industry.
“For the first time since the economic downturn, production is approaching 1 billion bricks in a six month period.
“Stock levels have also grown to nearly 450 million, a 33% rise in comparison to the stock levels at the first half of 2014, meaning choice in brick is now possible with reasonable lead in times.”