In the month of the King’s coronation, confidence had increased for nearly half (44%) of our respondents, up from 41% last month – not that the coronation had anything to do with it, as far as we know. And it’s unlikely the economy would have either. It remains...
It was starting to look as though confidence was growing as the year went on; from only 21% feeling more confident than the previous month back in January, to 27% in February, and jumping up to 50% in March. It’s now taken a bit of a tumble, though fortunately not...
Small, local build companies have been hit hard by rapid inflation and materials price rises with uncertainty on the impact of the war in Ukraine looming large for the sector. According to the latest Federation of Master Builders (FMB) State of Trade Survey, prices are hitting bottom lines with 98% of build companies having experienced material...
UK house prices increased by 10.9% in the year to February 2022, up from 10.2% in January 2022. On a non-seasonally adjusted basis, average house prices in the UK increased by 0.5% between January and February 2022, up from a decrease of 0.04% during the same period a year earlier (January and February 2021). The UK Property Transactions...
OVERALL PERFORMANCE year-on-year As we dust off the memories of the last twelve months, we stepped forward into a whole new year. Whilst there’s a few things we are carrying over into 2022, the pandemic for starters, and the supply shortage continuing to contribute towards material price rises, participants are concerned about how these factors...
Monthly construction output decreased by 0.1% to £14,610 million in volume terms in February 2022 compared with January 2022. This is the first monthly decrease since October 2021 (a fall of 0.9%) following three consecutive months of growth. Storms Dudley, Eunice and Franklin bought heavy rain across much of Great Britain between 16 to 21...
From April 2022, the UK Treasury has banned the use of red diesel within the construction industry. Alastair Hayfield, senior research director at Interact Analysis, discusses in his new insight whether this new government policy will drive more investment towards electric powered construction vehicles. From 1 April, the UK government has banned...
The latest house price data, published by the Office of National Statistics, has shown that average house prices in the UK increased by 9.6% in the year to January 2022, down from 10% in the year to December 2021. Because of the impact of COVID-19 pandemic on both the number and supply of housing transactions, we might see larger revisions to the...
Monthly construction output increased by 1.1% in volume terms in January 2022 and is now at its highest level since September 2019; this follows an increase of 2% in December 2021 and is the third consecutive monthly growth greater than 1.0%. The increase in monthly construction output in January 2022 came solely from an increase in repair and...
The Envirobuild 2021 Environmental Impact Report is setting new standards when it comes to sustainability and accountability within the carbon-hungry construction sector. The report not only highlights the changes that have been made within the company to meet their own ambitious sustainability goals but also their vision of a carbon-neutral...
Ongoing supply chain issues and operational disruptions are the main concerns across the global construction industry, according to Allianz Risk Barometer 2022 respondents from the sector. Business interruption ranks as the top threat for construction companies worldwide (43% of responses), with the consequences of a natural catastrophe event...
OVERALL PERFORMANCE year-on-year Focusing on the trading month of December 2021, Christmas was on the way, Omicron was spreading, and the start of the winter season was upon us. Anecdotal evidence suggested there was a strong feeling of uncertainty about what the new year could bring as many expressed their deep concern for inflation and further...
According to official figures from the Office of National Statistics, construction activity has overtaken its pre-pandemic level. Annual construction output increased by a record 12.7% in 2021 compared with 2020. Monthly construction output increased by 2% (£281m) in volume terms in December 2021. This is the second consecutive month of growth...
In normal circumstances the construction industry is a bellwether sector for the wider economy and it’s not difficult to work out why. When homes, offices, factories, and roads are being built, it’s the most visible sign of confidence in the economy because people are funding their construction for others who are willing to pay to live in them,...
OVERALL PERFORMANCE year-on-year Focusing on the trading month of November 2021, Autumn was drawing to a close. For many, priorities shifted - with one month to go until Christmas, things may have felt quieter as work was put on hold due to money being spent on shopping and other festivities. One participant mentioned: “Towards the end of...
The latest house price data published on GOV.UK by HM Land Registry (HMLR) for November 2021 show that average house prices in the UK increased by 10.0% in the year to November 2021, up from 9.8% in the year to October 2021. Figure 1: Annual house price rates of change for all dwellings, UK, January 2006 to November 2021 Because of the impact of...
Monthly construction output increased by 3.5% in volume terms in November 2021, which is the largest monthly rise seen in construction output growth since March 2021. Anecdotal evidence suggested the strong demand for work, in combination with supply chain bottlenecks for certain products easing and the unseasonal mild and dry weather were the...
Areas with the biggest house price growth of 2021 have seen the value of homes rise by three times the national average, according to the latest data from Halifax. Taunton in Somerset saw house prices grow by the fastest rate (21.8%) over the course of the last year, compared to an average of 6.2% nationwide. In cash terms prices in Taunton rose...
All statistics are based on those surveyed and compare September 2021 to September 2020, with the exception of confidence; confidence is compared at the time of survey (November 2021) to the same time last year. OVERALL PERFORMANCE year-on-year Focusing on the trading month of September 2021, on top of the consistent chaos with rocky levels of...
Construction output fell 1.8% in October 2021, representing the largest monthly decline since COVID-19 sent construction into chaos in April 2020. This fall means the level of construction output in October remained 2.8% below the February 2020, pre-coronavirus level. Unfortunately, new work also fell by 2.8% from September to October 2021....
The ONS have released the latest house price index, noting a rise in average house prices across the UK from £264,000 to £270,000. A new study has revealed where UK homebuyers will get the most value for their money, based on the number of bedrooms, bathrooms, square meterage, chances of a driveway and the type of house across the top 30 most...
The City of London Corporation has approved plans for a 24-storey office-led development on Houndsditch in the Eastern Cluster, the seventh tall building to be approved this year. The Planning and Transportation Committee backed Brockton Everlast’s scheme, designed by architects AHMM, which offers more than 56,500 sqm of office space as well as...
Monthly construction output grew 1.3% in volume terms in September 2021, compared with August 2021. This is the first monthly increase since June 2021 and the largest since March 2021, when output increased by 4.8%. New work and repair and maintenance both grew on the month, increasing by 1.3% and 1.2% respectively. Despite the monthly growth,...
All statistics are based on those surveyed and compare August 2021 to August 2020, with the exception of confidence; confidence is compared at the time of survey (October 2021) to the same time last year. OVERALL PERFORMANCE year-on-year Focusing on the trading month of August 2021, it is clear the material and labour shortages are continuing to...
Regeneration projects are popping up all over the country at the moment as local councils bid for the Governments Levelling Up Fund. Key successful bids this week include: Leicester’s railway station revamp, Birmingham’s Moseley Road Baths and Balsall Heath Library restoration, and Portsmouth International Port’s crucial terminal extension. On...
As the industry battles the ongoing supply chain issue and labour shortages, monthly construction output fell 0.2% in volume terms in August 2021, now with the level of output 1.5% below its pre-coronavirus pandemic February 2020 level. New work remained flat this month (0.0%) with repair and maintenance falling (0.6%) on the month. Anecdotal...
All statistics are based on those surveyed and compare July 2021 to July 2020, with the exception of confidence; confidence is compared at the time of survey (September 2021) to the same time last year. OVERALL PERFORMANCE year-on-year Nationally, projects were up by 46% on average, and turnover increased by 66%. Conversion rates rose by 21%, and...
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