Overall the market is forecast to contract next year
Having fallen by 6% this year, project starts are forecast to decline by 2% in 2019 before recovering 3% in 2020.
Whilst overall starts will decline for a third consecutive year in 2019, logistics premises, build to rent, student accommodation and social housing, secondary education and community & amenity are forecast to be growth areas. The most robust increases are away from London and the South East, with rises in project starts during 2019 expected in the South West of England, Scotland, Wales and Northern Ireland. A modest recovery in projects starts is forecast for 2020, supported by a rise in private housing, education, health and civil engineering projects.
- Business investment hit by slow UK economic growth and political uncertainty
- Weaker housing market activity
- Slowdown in commercial sector activity
- Increase in logistics projects
- Major projects boost civil engineer workloads
- Overall weakening in construction project starts for third consecutive year during 2019
- Strengthening in private housing, public non-residential and civil engineering work lifts starts in 2020
If you have any questions, or would like to discuss how Glenigan research can help shape your business strategy, then please get in touch with Allan Wilén on 0207 7156433, or email allan.wilen@glenigan.com.