Trends In The UK Construction Industry | Articles Addicted

It?s fairly safe to say that times have been tough for the UK construction industry over the past couple of years. The sector was hit hard by the recent recession and signs suggest that it?s struggling to pick up despite the return to economic growth. The fact that growth remains sluggish is one problem as it means there?s less demand in much of the country, and there are also other challenges, such as lack of access to capital to finance projects as banks impose strict conditions.

When we look at the UK construction industry?s current state, we can see that confidence is quite low among firms. The confidence levels at the end of 2010 were lower than they were at the start of the year, and in 2011 that trend seems to be persisting somewhat. Some of this is to do with the fact that fewer houses are being sold and built, and the issues in the housing market are also affecting the rest of the construction industry.

Also, less than 50% of UK construction firms currently think that the next 12 months will be better in terms of turnover than the twelve months that have just gone. This suggests that the industry is currently quite shaky. Around 30% of construction firms also report feeling less confident about the next twelve months, which suggests signs of worry within the market. However, some firms are also reporting profits driven by sales especially in the London area, so it?s not all bad news.

The current trends suggest that things could be set to stay this way for a while yet. While there are signs that the UK construction industry is picking up in areas such as London, outside of the capital, firms aren?t getting the benefit of this boost. As with much of the current economy, it seems that much of the growth will continue to come from the south of the country, with some economists suggesting that construction issues elsewhere could force the country back into recession.

In conclusion, it seems safe to argue that over the coming months and years, the UK construction industry will continue to face challenges. Businesses will continue to be afflicted by sluggish growth in much of the country, although buoyant growth in London construction might stop too many bad things from happening. The housing market will continue to pose problems as fewer houses are being built, but there?s no reason for too much gloom just yet as there is still every chance the industry could bounce back to health.

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Source: http://articlesaddicted.com/real-estate/trends-in-the-uk-construction-industry

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