Value of contract awards declines

Latest News Thu, May 23, 2019 1:44 PM

The value of all construction contract awards in April 2019 was £5.2bn, a decrease of 2.1% on March.

However, the number of contract awards increased by 26% in April, indicating the volume of projects awarded must be at a lower value than March.

The North West had the largest share of contract awards in April at 15.7% which was closely followed by London with a 15.2% share. The only other region to obtain more than 10% share of contract awards in April was the South East with 14.0%.

The latest edition of the Economic & Construction Market Review from industry analysts Barbour ABI highlights levels of construction contract values awarded across Great Britain.

Following the trend for the quarter, the residential sector dominated in April with a 55.6% share of construction contract awards. This meant that all remaining sectors accounted for a significantly smaller share of contract awards this month, with infrastructure the second largest sector with a 14.3% share and the third largest sector was industrial with a 12.6% share.

The top project awarded in April was the £250 million project by University College London for a new Institute of Neurology/Dementia at the Eastman Dental Hospital site in Camden. The Yorkshire & Humber region was the location for the second largest contract award in April with the £200 million electrification upgrade of the TransPennine Rail Route between Leeds and York/Selby.

Also valued at £200 million, the regeneration of the London Road Block in Camberley, Surrey was the third largest contract award in April which will provide a mixed-use site involving both residential and commercial units.

Commenting on the figures, Tom Hall, Chief Economist at Barbour ABI said, “Despite a fall in value of contracts awarded in April, it is encouraging to see a significant increase in number of projects awarded. Annual comparisons show that the number of contract awards for April 2019 is at the same level as April 2018. So far, 2019 has seen contract awards maintain a somewhat steady level between £5.2 and £5.4 billion, demonstrating the potential for steady underlying output growth for the rest of the year.”

Featured News

Specification news
Marley sponsors SkillBuild to support tomorrow's...

As part of its ongoing commitment to investing in future roofing talent, Marley is...

Read More >>

Specification news
Boost for regional contractors

Regional contractors are benefitting from Carillion’s collapse and the more recent...

Read More >>

BUILDING PRODUCT LIBRARY - LATEST BROCHURES

10 Point Guide Brochure

10 Point Guide
By Guthrie Douglas

Download Now >>

MSA National Stadium, Warsaw Case Study Brochure

MSA National Stadium...
By MSA Europe

Download Now >>

MSA Ledbury Case Study Brochure

MSA Ledbury Case Stu...
By MSA Europe

Download Now >>

MSA University of Brighton Case Study Brochure

MSA University of Br...
By MSA Europe

Download Now >>

MSA Snowdon Summit Building Case Study Brochure

MSA Snowdon Summit B...
By MSA Europe

Download Now >>

BUILDING PRODUCT DIRECTORY - LATEST PRODUCTS

PushLock® Window Washing Anchor
PushLock® Window Washing Anchor

The MSA PushLock® anchorage for window-washing is typically used where access from inside a...

Read More >>

Fall Protection Kits
Fall Protection Kits

The MSA Fall Protection Kits provide ready-to-use solutions to keep workers safe when working at...

Read More >>

V-EDGE™ SRL
V-EDGE™ SRL

MSA’s V-EDGE SRL is designed to be used for horizontal, overhead, and leading edge applications,...

Read More >>

CONSTRUCTION VIDEOS - LATEST VIDEOS

wedi | EN - Training: Installing Fundo Top Primo and Top Wall
wedi | EN - Training: Installing Fundo Top Primo and Top Wall

Installing the new ready-to-fit surface for Fundo shower systems: wedi shows the installation of...

Watch Now >>

Freefoam Woodgrain Fascia and Soffit Range
Freefoam Woodgrain Fascia and Soffit Range

See the Freefoam woodgrain colour range for fascia and soffit. Choose to match windows and doors....

Watch Now >>