UK market intelligence – spring 2017
In our latest UK market intelligence report, we examine the trends facing the construction sector and discuss the impact across core themes affecting the market.
- Increasing capacity but skills issues persist: Contractors on the whole are increasingly reporting greater capacity to complete new projects but there is significant regional variation
- Escalating materials costs: Construction costs are set to continue to rise over the next 12 months, increasing pressure on the industry. Contractors expect escalating prices for imported materials, triggered by the comparatively weak pound, to outstrip cost inflation rates for plant and/or labour
- Tender price growth masks regional divides: Contractors are bullish in their expectations for tender prices over the coming year but the proportion of contractors reporting the construction market as either hot or overheating has dropped significantly
- Opportunities to drive regional investment: Devolution deals and the election of metro mayors across the country is expected to boost the market in certain regions including the West Midlands and Greater Manchester
For the full analysis and insights, download our full report.
If you would like to discuss the UK market intelligence report or any of the topics covered, please contact Economic Analyst, Kristoffer Hudson or your usual Turner & Townsend contact.