Construction Workloads at 20 Year High According to RICS
A recent press release issued by the RICS suggests that the sharp rise in private housing and private commercial activity has increased construction workloads at the fastest rate in 20 years. The article cited research from the organisation’s latest UK Construction Market Survey – click here to read the report.
The strongest growth in the construction industry has been in the private housing sector, particularly in our region of London and the South East. However, growth in the construction industry in Northern Ireland remained flat.
Throughout the UK, the main factors limiting construction projects were reported to be:
- Shortage of labour
- Access to finance
- Shortage of materials
Despite these concerns, the growth that is being reported across the industry is extremely positive and further growth is expected in 2015 with 58% of surveyors expecting to see profits increase and anticipating the need to recruit more staff to cope with growing workload.
The UK government has committed to investing £36 billion in over 200 infrastructure projects across the UK. This is adding to the confidence within the industry following the deep recession of recent years.
It is important that the above factors which may hinder long-term growth in the construction industry are addressed but it is also important that an underlying framework for effective planning and delivery of projects is in place. This will help to ensure long-term growth of the construction industry spread evenly throughout the UK.
