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Latest results

SME confidence falls sharply as market outlook deteriorates

Our second quarterly SME Developer Sentiment Survey reveals a sharp deterioration in confidence among small and medium-sized home builders, with economic uncertainty, rising costs and weak market conditions increasingly constraining housing delivery.

Three-quarters of SME developers now hold a negative view of housing market conditions over the next three months, up from 37% in the previous survey, while just 4% report a positive outlook. Confidence has also weakened across key indicators of housing delivery, including land purchasing and new site starts.

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Global uncertainty is worsening an already fragile housing market

The survey found that more than nine in 10 SME home builders (91%) believe the Iran conflict has worsened their business outlook for the next 12 months, with only 1% disagreeing. More than a quarter of respondents (27%) said concerns arising from the conflict have already led them to reconsider or pause the acquisition of new development sites.

While the conflict has amplified uncertainty, it has also highlighted the fragility of the operating environment for SME developers, who were already facing viability pressures, planning delays and weak buyer demand.

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Market conditions are suppressing investment and new housing starts

Confidence is weakening across all key housing delivery indicators as nearly half of SME developers (49%) expect to reduce land purchasing activity over the next three months, compared with just 18% who expect to increase it.

The survey also shows growing caution around new site starts, with almost all respondents (94%) saying current market conditions are causing caution when considering new developments, up from 70% in the previous quarter. Nearly half (48%) reported significant caution or delays to new starts altogether, while a further 45% reported moderate caution.