26th May 2017
This month has seen a mixed bag of news within the construction industry. On a positive note, May saw a rise in UK house-building. However, in the wake of Brexit, the industry is still facing uncertainty, with construction leaders pressing for the UK to keep key ties with the European Union. Keep reading for more insights
Apprentices must play a key role in rebuilding construction
The Construction Industry Federation, Ireland (CFI) have reported that construction employment could rise to 213,000 by 2020. However, The CFI have stated that a two-fold increase in construction apprenticeships will be critical in helping to achieve this ambitious prediction. Added to this, attracting people into construction work will be key to delivering future housing and infrastructure projects. Read the full story via CIF here.
North-South divide closing on construction costs
Research by professional services company Turner & Townsend has highlighted that construction costs in London are set to rise by 4.1% this year. Their research also revealed that the traditional north-south divide in cost to build is starting to close. In the South, the price of construction inflation is set to fall from 3.5% to 2%. On the other hand, the construction market in the North of England is set to experience the highest price of inflation, rising to 3.6% this year. More here via Construction Enquirer.
UK Construction grows as housing market stabilises
May brings good news on the house-building front as Britain’s builders are getting back into work. In April, overall construction output grew at its fasted pace so far this year, according to the purchasing managers’ index from HIS Markit. On the back of this accelerated growth, construction companies are being encouraged to hire more staff to meet the rising demand of new home-building and large civil engineering projects. More here via The Telegraph
Construction leaders press for UK to remain in European Investment Bank
The political landscape in the UK causes concern across the construction industry. To combat some of the uncertainty facing the construction industry, UK construction leaders are pressing for the UK to stay in the European Investment Bank (EIB). This is not surprising, considering that The EIP provided €30bn worth of investment to UK projects between 2012 and 2016. Remaining a member of the EIB will ensure that vital projects have the ability to reach financial close, and remove some of the risks facing the construction industry in the wake of Brexit. More here via The Construction Index.