Housebuilding on the up – Barbour
7th May 2019
Residential construction had a strong March with £1.8billion contracts awarded, an increase of 8.3% on February, with the number of units up by 2.1% to 10,066 units, according to the latest figures from Barbour ABI.
Of the total contracts awarded in March, residential accounted for 31.6%. Following residential was the commercial & retail sector with a 16.1% share and then hotel, leisure & sport with a 13.6% share.
The largest residential contract in March was the £100 million Ten Broadway development at the New Scotland Yard in London, which will see Multiplex Construction Europe Limited deliver a total of 246 luxury apartments in a 20-storey building.
The biggest project awarded was the £120 million industrial contract, Symmetry Park Project at Morton Park Way in Darlington. This project will see ISG Retail provide a new distribution facility with project completion due in July 2019.
The latest edition of Barbour’s Economic & Construction Market Review highlights levels of construction contract values awarded across Great Britain. This month it shows that the total value of construction contracts awarded in March 2019, was £5.3 billion which is a 1.2% decrease on February but is 0.6% higher than March 2018.
The full report is at: https://ubm.io/2Zw0Poc