{"id":31053,"date":"2017-02-20T13:01:17","date_gmt":"2017-02-20T13:01:17","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=31053"},"modified":"2018-01-30T14:09:47","modified_gmt":"2018-01-30T14:09:47","slug":"construction-industry-housebuilding-dominating","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/construction-industry-housebuilding-dominating\/31053\/","title":{"rendered":"Construction industry starts the year on a high with housebuilding dominating"},"content":{"rendered":"

A new analysis from Barbour ABI has revealed the construction industry began 2017 on a good footing as the rate of housebuilding continues to climb<\/h2>\n

Leading provider of construction intelligence Barbour ABI<\/a>\u00a0has revealed that housebuilding dominated activity since the beginning of the year.<\/p>\n

A new analysis showed the start of the year got off to a good start. January saw\u00a0the value of new building contracts increase to \u00a36bn, with over a quarter of the contract value originating from London construction.<\/p>\n

Barbour ABI said this figure was boosted by the One Nine Elms project, which is being undertaken in Vauxhall. This development was the most valuable in this month, hitting \u00a3900m.<\/p>\n

Mixed construction industry<\/h3>\n

Housebuilding<\/a> contracts saw a massive surge, growing by 83 per cent year-on-year to reach \u00a32.7bn. Some 91 per cent of the contracts were for the private housing sector, a figure that is up from only two-thirds a year ago.<\/p>\n

Looking beyond the housing market, Barbour ABI\u2019s analysis revealed a bleaker outlook. Both the commercial and retail sector took a hit, seeing a decline of 40 per cent year-on-year last month.<\/p>\n

Infrastructure also suffered, despite the number of major projects in the pipeline. This sector reached the lowest point in a year as contract values fell for the eleventh consecutive month.<\/p>\n

December\u2019s figures from the government saw construction output was slowing, hitting 0.6 per cent year-on-year. However, mortgage approvals continued to pick up following the low seen after the EU referendum vote last year. This reached the highest level since March.<\/p>\n

The future looks bright<\/h3>\n

However, Barbour ABI revealed a healthy pipeline for future construction work. In fact, there is some \u00a35.8bn worth of contracts nearing completion.<\/p>\n

Michael Dall, lead economist at Barbour ABI, said: \u201cWhilst the housebuilding sector is performing admirably, we expect to see its growth continue to flourish across 2017.\u201d<\/p>\n

\u201cOn the positive side, the number of projects awarded in January jumped by 50 per cent compared with December and 25 per cent when looking at January last year.<\/p>\n

\u201cThese figures are encouraging and would suggest that work is most certainly on the way.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

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