Surveyors see start of construction recovery

Grant Prior 11 years ago
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The latest RICS construction market survey shows an industry finally turning a corner with new projects beginning to rise in almost every part of the country.

During the second quarter of the year a net balance of 21% more surveyors reported rises in workloads – the most positive reading in over six years.

The positive mood is set to strengthen over the coming twelve months with 59% more surveyors predicting workloads continuing to rise rather than fall.

Construction activity saw the biggest rise in London, the South East and the Midlands with Northern Ireland the poorest performing region.

Simon Rubinsohn, RICS Chief Economist, said: “It is clearly good news that the amount of construction taking place across the country seems to have turned a corner.

“But this modest improvement comes after a long period of contraction and many businesses in the sector are still struggling to keep their heads above water.

“Securing finance for development is still a big challenge and, despite the government’s attempt to revamp the planning system, the feedback we are getting suggests that this issue also remains a major obstacle to getting projects under way..”

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