UK Construction Firms Pick Up after Quiet Start of New Year
The UK housing market experienced some quiet times to start the year, but in the last few weeks it has picked up which means full steam ahead for many builders across the country. Demand for new homes has recently picked up quite a bit and that means more business for home builders who were stuck in neutral for much of January and February. There are also some sizeable civil engineering projects growing legs.
An increase in the number of home building projects means an increase in the number of hires for the last few weeks. This is creating quite a buzz in and around several home builders who were sitting idle at the beginning of the year.
According to IHS Markit figures, last month saw construction output grow at its fastest pace for the year which means an increase in employment and an increase in the number of residences available for ownership or rental.
Duncan Brock of the Chartered Institute of Procurement and Supply commented on the latest construction figures, saying: “The housing sector offered up the best news recovering from last month’s minor blip and building on its strongest performance since the end of last year.”
Brock continued: “Employment growth rose to its highest since May 2016, though continued disquiet about the lack of highly skilled labour availability persisted, and must be addressed if the future strength of the sector is to be assured.”
Howard Archer of IHS added: “Construction companies will be hoping that recent Government measures aimed at boosting infrastructure and housebuilding (including in last November’s Autumn Statement) have a material beneficial impact.”