Weekly Email News for the Glass, Glazing & Fenestration Industries

Strong start for house building
…and more to come
21st February 2017

Housebuilders have signalled a bullish start to the year with January’s contract values almost doubled year on year, with much of the growth coming from the private sector, according to the latest figures from industry analysts Barbour ABI.

Housing figures increased sharply with construction contract value reaching £2.7billion, an 83 per cent increase on January 2016, and contributing to strong overall construction contract value of £6billion.

Private housing dominated in January, with 91 per cent of the total construction contract value compared to just 66 per cent a year ago.

There are also currently £5.8 billion worth of housebuilding contracts that are nearing award status, suggesting this month’s growth is likely to continue over the next few months and beyond.

Michael Dall, lead economist at Barbour ABI, said: “Whilst the housebuilding sector is performing admirably, we expect to see its growth continue to flourish across 2017. However, other sectors now need to start producing more auspicious figures, such as the commercial & retail sector, which saw a year-on-year decrease of 40 per cent last month.

Infrastructure, another traditionally big performing sector, is also in a slump with January figures being the lowest for 12 months.”

“On the positive side, the number of projects awarded in January jumped by 50 per cent compared with December and 25 per cent when looking at January last year. These figures are encouraging and would suggest that work is most certainly on the way.”

www.barbour-abi.com

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