Phoebus Software comments on S&P UK Global Construction PMI data

08 April 2026

Richard Pike, Chief Sales and marketing Officer at Phoebus Software reacts to March’s S&P UK Global Construction PMI released this morning:

“The housebuilding sector has been in a negative state following a sharper than expected downturn in February, and the impact of the Iran conflict has only deepened the problems facing the sector. Higher oil prices are pushing up construction costs further, squeezing margins, while supply chain issues are slowing down projects. This comes at a time when demand is already sluggish, with weak order books and few new projects breaking ground.

“Like any sector, housebuilders need confidence and certainty and that’s in short supply. If the Middle East conflict can be resolved and supply chains normalise, the sector will start to recover, but we seem a long way from the 1.5 million new home target set by the Government. However, if the disruption persists, the sector faces a long and painful squeeze. The Government needs new homes to be built, but any kind of fiscal intervention is unrealistic in the current environment. What’s needed is clearer policy direction, planning reform and support for smaller developers. We also await the effect of the announcement of the seven new towns across England announced last month, and the speed that these projects can be delivered.”