Significant drops monthly project value according to Glenigan

According to the latest Glenigan Construction Review, the value of construction projects starting on site in the three months building up to October 2019 rapidly declined when compared with the same statistics from the year before.

Specifically, these figures that have been published by Glenigan show the average value of projects which started on site as being £4.655Bn per month which is a proportion of 31 per cent lower than the total value that was recorded in the year previously, with the most substantially effected subsector within these construction projects being that of major projects.

Going into further detail it was revealed that in the three months up to October 2019 the value major projects, which include construction projects with a value that is equal to or greater than £100M, averaged at a value of £602M per month, which measures at just one third of the level over the course of the same period in the year before.

Comparatively, the average monthly value of underlying projects, those being projects with a value of less than £100M, over the course of the three month period building to October 2019 measured at a figure that was 12 per cent less than the average which was recorded over the same period in the year before, and was even 18 per cent lower than the same figure for the previous three month interval.

In regard to projects which have yet to start on site, but have been had contracts awarded, the average monthly value of these measured at £5.973Bn over the course of the three months building to October 2019, which is actually a nine per cent decline when compared to the same statistics over the same period one year prior.

Again here, it was major projects which felt a substantial drop, with a four per cent drop in value against the year before, as well as underlying projects, which experienced a ten per cent fall against the previous year.

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