Sector - Finance & Legislation
February contracts see upturn
22 Mar 19
The latest edition of the Economic & Construction Market Review from industry analysts Barbour ABI has been released, showing the value of contracts awarded in February rise.
The residential sector looks particularly positive with an upturn of 13.1% from January, some £1.7Bn, in contracts awarded during February. Residential unit numbers also increased – up by 5.4% on January at 9,850 units.
Housing and infrastructure have been leading the pack for a while now, proving to be two of the few bright spots in the construction sector over the last year, and February’s figures continue this trend, with infrastructure holding a 13.9% market share. Education follows at a 12.3% share.
The latest release shows the total value of construction contracts awarded in February 2019 was £5.4Bn a 0.5% decrease on January, but 10.6% higher than February 2018.
The largest contract awarded during February was the redevelopment of Chelsea Barracks, where Multiplex Construction Europe will create a total of 97 residential units. The largest infrastructure contract was the £110M redevelopment of the former Royal London Hospital site in Tower Hamlets to provide a new civic centre and council offices. While the redevelopment and extension of the Darwin Building for the University of Edinburgh, took the top spot in Education at £90M.
If you would like to read more articles like this then please click here.
More Finance & Legislation News
- Government awards grant for home retrofits
1 Feb 24
A new project to develop an innovative point-of-sale finance technology solution for residential retrofit decarbonisation
- Construction sees most insolvencies
31 Jan 24
The construction sector is experiencing the highest number of insolvencies of any industry in the
- Public funding for ProjectPay’s payments solution
17 Jan 24
ProjectPay provides payment protection contractors across the building supply chain.
-
Sector Press Releases
- Manchester Construction Networking Event
We hosted a construction-focused networking event on the rooftop terrace of Great John Street Hotel.
- Green shoots showing for Construction
The latest IHS Markit/CIPS Construction PMI figures have been released, showing a resurgence to growth for the industry.
- Prevail celebrates success at the UK Infrastructure Show
Prevail had a fantastic day at the UK Infrastructure Show. Even the sunshine made an appearance.
- A collaborative platform for AFPs – Can technology finally deliver?
New technology and streamlined applications for payment makes collaboration in construction a reality.
- Strong housebuilding growth boosts construction industry
This is according to the latest figures from the Office of National Statistics.
- Reaction to the latest Markit/CIPS UK construction PMI for April
The Vinden Partnership says industry growth a result of investment in infrastructure.
-
Sector Case Studies
- A Brave New World – Video Mediation
How can we mediate if face-to-face meetings are not allowed? Mediation is routinely taking place
- Coronavirus and the time for completion of construction contracts
Peter Vinden, CEO of Gateley Vinden, explains why contractors need to know where they stand
- Adjudication for Specialist Sub-Contractors – Sharing the risk – “Fee Flex”
Peter Vinden, CEO of Gateley Vinden, explains his Fee Flex approach to assisting specialist sub-contractors
- A gift from Singapore – The Enforcement of International Mediated Settlement Agreements
What happens if your dispute is with a party that is based in a different
- Hide and Seek and Adjudicators
Peter Vinden of The Vinden Partnership on the lengths contractors go to to avoid the
- Adjudicator slips, errors and cock-ups!
Every adjudicator is prone to the human condition of making slips, errors and mistakes from