Currie & Brown’s latest UK construction market outlook report analyses data from the start of the year to date and anticipates the impact of market trends on the sector – both in the near and longer-term.
The report’s authors anticipate construction activity slowing during 2023 and flatlining through 2024, before accelerating from 2025. This is based on a view that any fall in inflation through 2023, and associated easing in the Base Rate, will be relatively gradual.
Looking ahead the commentary states “……With signs that the residential and commercial markets are cooling, public sector development and the National Infrastructure and Construction Pipeline will be primary drivers of construction sector growth. However, the nature and scale of the projects, combined with market trends, is likely to produce complex challenges.
The Engineers feature in the Sectors section of our Directory includes access to our article
Marketing to Civil & Structural Engineers and the guest article, A Guide to Construction Engineers
Infrastructure projects are, by nature, large-scale and unique. They demand a high number of people with specialist skills, and often require these people to work intensely during night-time hours. As such their demand for skilled labour typically outstrips supply, which in turn contributes to cost inflation.
The current pipeline of activity will take time to come to market, likely producing a jump in activity from 2025 – 2030. Yet at the same time, the construction talent pool is shrinking. Brexit has led to a shortfall of 330,000 people in the UK labour force.3 The Construction Skills Network anticipates that we will need an extra 225,000 construction workers to meet demand by 2027. This means that when many infrastructure projects get underway, professionals are likely to be in shorter supply than ever…..”
Supported by numerous charts and graphs, the full 16 page report provides an extensive analysis of the outlook for UK construction – nationally and regionally – and includes sector snapshots for both the infrastructure and the healthcare sectors. It can be viewed on Currie & Brown’s website here.
The Construct UK Sales & Marketing Directory hosts over 75 articles, 1,000 construction events and 30 different databases for download. The annual £195 (+VAT) subscription fee provides unlimited access to all resources on the site.
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