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SJD Accountancy > News and Opinion > Construction contractors could benefit from rise in new projects

SJD Accountancy > News and Opinion > Construction contractors could benefit from rise in new projects

Construction contractors could benefit from rise in new projects

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Written by:Digital
2 minutes
Published: January 1, 2019 Updated: November 21, 2018
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Contractors and Limited company owners trading in the construction industry will be pleased to hear that the sector is set for a 7% rise in new projects. 

Recent findings from construction intelligence providers, Genigan, have predicted a 7.4% increase in project starts during 2014.

The Glenigan report, ‘2014 Mid Year Construction Review and Forecast’, has indicated an upturn in construction activity, with growth improving by 4% since the beginning of the year.

Glenigan recorded a 10% rise in the value of projects starting on site during the first half of 2014, largely driven by increases in private housing, industrial and commercial building projects.

According to the construction intelligence providers, work volumes will continue to pick up across these sectors through the latter half of the year.

Allan Wilén, Economics Director at Glenigan, said, “The industry’s forward pipeline points to sustained output growth during the second half of the year and into 2015. 



“Renewed consumer confidence and the accompanying revival in the general housing market have emerged as key growth drivers for both construction activity and the wider economy.”



He added, “The pre-construction pipeline also remains firm. Having grown by 19% over the last two years, the value of projects securing detailed planning approval during the first six months of 2014 was unchanged on a year ago, supported in particular by strong growth in private housing projects.



“We expect rising private sector investment and improved consumer confidence to underpin further growth in both detailed planning approvals and project starts during the second half of 2014.” 

For more information on finding work as a contractor, why not visit our specialist sector, for top tips and advice on finding work in your market.

If you have any further questions about contracting, or would like to book a free face to face meeting with a member of our New business team, please call 01442 275789 or email newbusiness@sjdaccountancy.com. 

For all other news please visit our Contractor News hub, or why not join us on Facebook and follow us on Google+ for all the latest contractor news, views, debates and competitions.

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