Construction work coming in at quickest rate seen this century
THE CONSTRUCTION sector is continuing to pick up momentum, with workloads rising at their quickest rate for 20 years, new survey data shows today.
The survey undertaken by the Royal Institution of Chartered Surveyors (Rics) uses net balances – the proportion of people giving a positive response minus the per cent of those giving a negative one.
The net balance of firms reporting an increase in workload over the third quarter rose to 46 – its highest level since 1994 and up from 41 per cent in the second quarter of the year. This marks the eighth consecutive quarterly rise in workloads.
Private commercial property and house builds lead the boom, scoring record high net balances of 58 and 59 respectively.
“Unprecedented housing demand, the bounce back from a very deep recession and government’s commitment to invest £36bn in more than 200 infrastructure projects is driving much needed confidence across the industry,” said Alan Muse, Rics director of built environment.