Latest News Fri, Jan 20, 2017 8:41 AM
After a year of unpredictability for the economy as a whole, overall contract value figures for the construction sector reached £70 billion, decreasing by 5 per cent compared to 2015.
However, according to the latest edition of the Economic & Construction Market Review from industry analysts Barbour ABI, Housebuilding continued to grow across the majority of the year, with total value of contracts at £23.6 billion, a year-on-year increase of 11 per cent.
Furthermore from the Housebuilding sector, the planning activity also increased in 2016 with the total value of projects reaching an advanced planning stage of £49.8 billion, an increase of 19.2% from the value in 2015.
Another sector that saw an increase in yearly contract value was Infrastructure with a 1.9 per cent increase, reaching £19.3 billion. Infrastructure also had nine of the top ten highest value construction contracts in 2016.
Four construction sectors saw a decrease in contract value across 2016; Industrial, Medical & Health, Education and Commercial & Retail, which saw the biggest drop over the year, decreasing by 32.6% compared to 2015 figures.
Top ten highest value construction contracts awarded in 2016:
Michael Dall, lead economist at Barbour ABI, said: “It is clear from our yearly figures that the Housebuilding sector was the main component of growth across 2016
"Even after the initial shock of the Brexit vote, where many housebuilders share prices fell in excess of 20 per cent, this did not hamper activity with both the current and future pipelines of work remaining strong.
“However Infrastructure cannot be overlooked, with nine out of ten of the biggest projects across all of construction coming from this sector. Overall for Construction in 2016, output remained healthy but contract award values did decline.
“With important political decisions likely to come in 2017 that could have implications on construction activity, particularly in the commercial sector, it would seem that the future will be difficult to predict, as Britain’s trading position remains unclear for now.”
Featured News
CIBSE has announced the launch of a brand-new Special Interest Group aimed at...
The Royal Institute of British Architects (RIBA) has published its latest set of...
BUILDING PRODUCT LIBRARY - LATEST BROCHURES
FRAMESAFE FR A2 FIRE...
By Glidevale Protect
A Guide to Aluminium...
By F.H. Brundle
Handrailing & Balust...
By F.H. Brundle
RLG600 Access Floori...
By Kingspan Data & Floo...
RHG600 Simploc
By Kingspan Data & Floo...
BUILDING PRODUCT DIRECTORY - LATEST PRODUCTS
Straightcurve® – headquartered in Australia, is renowned for high-end innovative garden edging,...
The Kingspan RLG600 raised access floor panel is intended for light office use and is capable of...
Kingspan RHG600 Simploc is the heavy grade floor system, capable of handling up to a 12kN/m2...
CONSTRUCTION VIDEOS - LATEST VIDEOS
Straightcurve® Product Range Overview - A Demonstration of Installation Ease
In progressive and dynamic business sectors, such as construction, it’s natural to be forward...
Decorative aluminium horizontal bulkheads more than 100 metres long have been supplied and installed...