Residential construction awards rise in August

  • 26/09/2017
  • 0
Residential construction awards rise in August
Construction activity in the residential sector increased in August, according to the latest Economic and Construction Market Review by Barbour ABI.

The analyst said the total value of residential projects awarded in August was £2.7bn, based on a three-month rolling average. That’s up 6.6% on July and 55.2% higher than in August 2016 after the EU Referendum. Residential contributed over a third of all construction contracts awarded.

London was the main driver of residential activity last month – accounting for 27.7% of the value awarded, slightly higher than in August last year. This included a 458 unit scheme in Wembley Park and a 648 unit development in Kew Bridge.

It was followed by the North West, which accounted for 13.2% of the contract value. The largest North West development was the Manchester City Centre Whitworth Street development, which includes 238 apartments. Scotland also saw a rise of 5.5% in its residential activity.

The contracts awarded were dominated by private sector housing (78%). This was followed by hotels and halls of residence projects.

The report said ONS figures showed the construction sector shrank overall between June and July. This was mainly due to declines in new work in private sector housing and infrastructure. New housing output shrank 3.9% over the period.

“However, while the level of private housing continues to grow annually longer term growth should exist,” it added.

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