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 […]
Construction industry growth predictions for 2024
Construction industry statistics begin to stabilise after a sharp fall The poorer economic outlook has prompted some clients and developers to pause or scale back on planned investments. The value of projects securing detailed planning consent dropped by 8% during 2022 and remained weak during the first four months of 2023. During this period, main […]
Prison construction gets a boost whilst project starts remain low
According to the latest construction industry data, the amount of project starts is at a 10 year low. However, there are some industry bright spots: prison construction gets a boost, and the hotel construction pipeline looks strong. In this overview, we summarise the latest construction industry data from analysts at Barbour ABI and Glenigan. Prison […]
The impact of rising energy costs on the construction industry
The energy crisis has impacted the construction industry The impact of rising energy costs on the construction industry included eye-watering fuel prices that led to a spike in material costs. Ultimately resulting in many projects being postponed. On the plus side, the energy crisis has brought forward infrastructure projects and encouraged energy efficiency improvements. The […]
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 […]
Construction industry predictions for 2023
Construction industry forecasts for 2023 Tom Hall, Chief Economist at Barbour ABI predicts slower later stage planning and construction activity, particularly in the commercially sensitive sectors as the economy slows. Likewise, Glenigan’s construction industry predictions for 2023 show that project starts will fall by 2%. Read on for the 2023 construction industry predictions from data […]
Industry Insights – January
New Records in 2022 The construction industry has proved it’s resilience over the last 12 months. Although sector activity was mixed, the industry overcame challenges and saw a record amount of contract awards and planning approvals. 2022 saw record levels – Barbour ABI’s view According to the Barbour ABI January Snap Analysis, the high […]
Our 2022 review and what’s in store for us in 2023
Reflecting on the year’s wins, challenges and recovery 2022 was a challenging year with industry-wide challenges that have tested the sector’s resilience. While Russia’s unprovoked invasion of Ukraine caused price rises and material shortages, contractors and clients have persevered, delivering projects to reinvigorate the economy. In spite of the challenges, 2022 was a year of […]