Article Date: 01/04/2017
Housing market plays a significant role in the demand of stone products. The Government is proposing to build more houses. The graph of Housing starts and completions 2005 - 2015 given below shows that this activity peaked in the year 2007 and then showed decline in subsequent years marketing the sharpest in year 2009-2010. From 2015 starts and completions of housing has started increasing.
The Government has set to get 200,000 houses a year built up to 2020. Proposal for a Pound 3 billion Home Building Fund announced at the Conservative Party Conference in September by Communities Secretary and Pound 2.3 billion Housing Infrastructure Fund announced by Chancellor in the Autumn Statement should provide sufficient funds. The actual real downside seems to be the fall in the value of sterling pound which has already been reflected in the increase in prices of imported natural and engineered stones and stone processing machinery.
As far as impact of Brexit vote it is still early to predict, but so far most of the companies have only seen business pick up since the votes were counted.
A variety of granite - black, absolute black, black galaxy, balmorals green marble; and a variety of slate would find ample market in 2017 in United Kingdom. However, Indian exporters shall have to be competitive. The V.K. market is likely to increase now.