Increase of 1.2% in commercial construction projects in the last 12 months
In the 12 months to the end of Q3 2018, work started on £18.3 billion of commercial construction projects, boasting an increase of 1.2% on the previous quarter and 24.1% on the same time last year.
New build activity accounted for £11.2 billion of this figure, constituting a slight rise on the level seen in Q2 2018. Total starts are now at their highest level since Q3 2016.
This trend reflects recent GDP estimates, which show construction as a major driver of growth in the economy in Q3, responsible for 1.6% of total output. However, this result may partly derive from work delayed by poor weather earlier in the year.
The full report is available to download here.