Construction in London has now returned to the peak levels of 2009, according to new data.
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According to the latest Deloitte London Office Crane Survey, office construction in the capital is up by 18% over the past six months to 11.1 million square feet.
There have been 26 new starts on office schemes, adding three million square feet to the pipeline, additionally there has been a 21% rise in let space under construction.
Although volume of new space completed in 2015 is expected to be down on 2014 and 2013 (just 3.3 million sq ft will complete in 2015), the rise in demolition levels (to 6.4 million square feet) indicates more construction work is imminent.
Available office space continues to be in short term supply and completions in 2015 have done little to alleviate this.
Much of the activity is attributed to the Crossrail project generating office developments. Continue reading
In the UK, construction accounts for 6% of the economy and it still remains the most dangerous land based work sector. The output is expected to steadily rise over the next five year however; this post-recession pick up is starting to pose a whole different set of health and safety threats.
Research by QBE recently revealed that almost 7 in 10 firms are planning to recruit additional skilled staff in the next twelve months; however half of these firms are concerned about the availability of fully trained employees.
The construction site demographic is changing, and as a result; there are a considerable amount of older workers as well as an increase in foreign labourers, and with this comes additional health and safety challenges.
ONS figures show that 35,000 construction workers are aged 55 and above, therefore it is inevitable that the physically demanding work combined with the normal effects of ageing can lead to premature physical decline. Therefore in order to capitalise on their experience, more firms are now ensuring that older and more skilled workers stay on to guide and train the younger ones, therefore putting them in less physically demanding work. Continue reading
The construction industry has entered its third year of growth as the recovery shows no signs of slowing down.
According to the Construction Products Association’s latest Construction Trade Survey, skills shortages and rising wages are the only major clouds on the horizon. The survey showed construction firms reporting their ninth consecutive quarter of growth.
Dr Noble Francis, Economics Director at the Construction Products Association, said:
“Firms across the whole construction supply chain, including building contractors, SMEs, specialist contractors, civil engineers and product manufacturers all reported rises in output during Q2.
“Continuing the trend since recovery emerged in mid-2013, growth in output was led by the private housing sector, in which 43% of firms, on balance, reported a rise in output.
“Increased output was also reported in private commercial, the largest construction sector, where 18% of firms, on balance, reported rising volumes of offices and retail work. Continue reading
The Government have recently released their latest update of the £127 billion construction pipeline, rising in value by 10 per cent over the last six months, according to the latest official figures.
Barbour API, the construction intelligence specialists, provided the pipeline which is designed to help businesses prepare for planned government-spending streams
Projects on the list include HS2, an £11 billion nuclear waste management facility and over £12 billion on education construction across the UK.
Simon Mahoney, Managing Director of Barbour ABI stated:
“The Government is construction’s single largest client, providing over 40% of annual spend in the UK, therefore it’s imperative that this publicly funded money is accessible and outlined clearly, allowing businesses to plan around the many thousands of projects within the construction pipeline. Here at Barbour ABI, we collect and collate the pipeline on behalf of the Government, helping to keep the industry up to date with the many developments.” Continue reading