Stakeholder - The Vinden Partnership


Construction output continues to decrease

The latest ONS figures for construction output have been released.

The figures show that construction output decreased by two per cent in the three-month on three-month series in November 2017. This is the sixth consecutive period of decline in this series, and represents the biggest contraction since August 2012.

However, despite a continuing fall in the three-month on three-month time series, construction output grew month-on-month, with the figures showing a 0.4% increase in November 2017.

Since the beginning of 2015, new work, and repair and maintenance have been rising steadily, resulting in all work reaching a level peak in January 2017. The increase in output for November is a result of increases in both repair and maintenance, and all new work.

In other sectors, all new work grew marginally, expanding by 0.4%, with levels remaining flat across all types of work. Only private housing provided a positive contribution to growth, the fifth consecutive growth period in this sector, increasing by £100M.

Peter Vinden, Managing Director of the Vinden Partnership said: “The latest figures are a reflection of just how volatile an industry construction is. The three-on-three month shows a fall, while the monthly figures show a rise.

“2017 has seen output fluctuate throughout the industry, but overall the picture is positive. Even with the November drop taken into account, March 2017 saw figures reach a level that was 31% higher than January 2013 – the lowest point of the last five years. November’s increase means figures now rest at 27.6% above this level.”

 

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The Vinden Partnership

Regent House

Folds Point

Folds Road

Bolton

Lancashire

BL1 2RZ

Bolton – Telephone: 01204 362888

Nottingham - Telephone: 0115 947 5334

London – Telephone: 0845 504 9733

www.vinden.co.uk

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Thank you to TVP for all your help on this incredibly successful project. We are very grateful for the leading role you have played as Quantity Surveyors and Employer’s Agent in making it come together without any major issues or disputes, which is quite a feat in the building industry.”



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