Construction
Construction market overview
The construction industry is witnessing a period of growth with residential development / improvement and public sector projects driving activity. There is also a housing shortage in many parts of the UK. In areas of high demand and high prices there is a need for more affordable housing for those on lower incomes and public sector workers. In view of this, the UK government has confirmed that it is to provide £1 billion to the Housing Corporation, specifically to assist in the construction of affordable housing for lower paid public sector workers in the south east.
There is a shortage of skilled labour in some areas of the industry. This has been particularly apparent in the building and allied trades, which has led to an influx of inexperienced or unqualified personnel resulting in a number of complaints about 'cowboy' contractors. The government and the construction industry are trying to combat this with a number of initiatives including one to 'licence' contractors.
The UK governments' commitment to public sector spending, PPP initiatives and residential development coupled with high house prices, lottery projects and the UK passion for property improvement provides the drivers for activity within the industry.
