A gloomy housing market has hit the UK construction industry causing it to fall to its lowest level in more than 10 years, according to a report by the Royal Institute of Chartered Surveyors (RICS).

Private housing was the worst-hit sector, with growth in workload turning negative for the first time since 1999.

-- Advertisement --

The study showed 1% more surveyors reported a rise in workloads in the past three months, this has fallen from 16% in the last three months in 2007.

This is forcing housebuilders to cut back on new-build programmes.

The report said the UK housing market looks as if it will go through its biggest downturn since the early 1990s.

(CD/JM)