Industry insights – July
Q2 activity falls by 21% compared to Q1 According to Glenigan, main contract awards averaged £6,030 million per month in Q2. That’s 32% down on the last quarter and 30% lower than the same period a year ago. This is the third month of lower activity levels for contract awards, confirming the new lower trajectory. […]
Office refurb projects are on the rise
Office Refurb Work There is an increase in office refurb projects, particularly in London, according to Glenigan. As companies seek to rebuild and reconfigure their business space to accommodate hybrid working, the offices sector can look forward to two years of growth. New office projects will rise by 19% next year – Glenigan’s view After […]
Project starts continue to dwindle
The value of underlying work starting on-site during the three months to June, fell 5% against the preceding three months, standing 39% lower than a year ago. The continued weakening in project-starts in Q2 is disappointing but unsurprising. Project starts are likely to continue to dwindle into the latter part of the year, mainly due […]
Industry Insights – Weak performance for most sectors
The construction industry starts the year slowly The latest construction industry insights show that there was a weak performance for most sectors over the last three months. According to Glenigan, there is a continued weakening in project start statistics… ‘31% decline in project starts against a year ago reflects investor caution in the face of […]