A little bit of confidence returns – RICS
RICS says 10% more surveyors across the UK reported rising workloads in the first quarter of 2013 – a higher percentage than at any time since the end of 2007. The latest RICS UK Construction Market Survey showed an increase in private housing construction activity, perhaps lifted by some of the government’s initiatives to revive the sector.
There were large variations from region to region, with London, the South East and the Midlands reporting increases in construction, but Northern Ireland and Scotland seeing a continued fall in workloads. “The sector in these parts of the UK remains particularly depressed,” RICS says, “and the picture shows no immediate signs of improving”.
However, overall a net balance of 27% of surveyors expect workloads to rise in the next year, continuing the current more positive trend. “It would appear, that at long last, a little bit of confidence is gradually returning to the industry,” RICS says.
It’s far too early to start to talk about a recovery in the construction sector, says RICS chief economist Simon Rubinsohn, cautioning that there are still “significant challenges” to be overcome – not least the lack of available finance, and planning-related issues.
