Stakeholder - The Vinden Partnership


Market contracts but trading still high

The latest release from Office for National Statistics (ONS) shows that the construction market has contracted once more in the three months to July.

This is the fourth three-on-three month consecutive fall, and although this may raise eyebrows, it is worth remembering that figures are still trading 21% over the lowest figures from 2013.

Figures for the three months to July, released by the ONS this week, show that the construction market has contracted by 1.2%. Construction output also fell month-on-month, falling by 0.9% in July 2017, predominantly driven by a 1.4% fall in all new work.

Trends show that the biggest declines were shown in the repair and maintenance arenas, with a 1.8% drop, and new work dropping to one per cent.

Peter Vinden, Managing Director of the Vinden Partnership has reacted to the figures with cautious optimism: “Although the latest ONS figures show a continued drop in output, we must remember that it is still trading 21% above the lowest points in 2013, and construction is proving to be a resilient sector.

“However, the most concern should be reserved for house building, where, despite the government push to address the looming housing crisis, figures have once again dropped, with private housing falling by £95M.

“Social housing is growing, contributing some £18M to industry output and this area will only continue to strengthen.”

“The boat may have been rocked by political uncertainty and economic forecasting, but construction is a resilient sector, and we can expect it to recover with government support and investment.”

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Contact Us

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.”



Oliver Jackson, Director of Strategy, Roberts Jackson Solicitors
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