The findings, reported in The Construction Index, 21 January 2015 predict steady growth over the next few years as follows:
- Total construction output volume will grow by 4.2% in Great Britain this year, despite the potential for the general election to cause a hiatus in work.
- 2016 will see 3.7% growth
- By 2018, total construction output will be 6% higher than the 2007 peak of £128.3bn.
- Although private housing and commercial still lag behind the peak levels of seven or eight years ago, they will still be the biggest drivers of growth in 2015 and beyond. The repair and maintenance sectors will also continue to see steady growth, the firm’s economists predict.
Leading Edge 2014 Review:
- Based on actual data for the first 10 months of 2014, last year is expected to end up with output at around £120.7bn at 2011 prices.
- The growth was higher than expected mainly due to the strong rise in housing output which will end up with year on year growth of 20% plus for 2014.
- New orders showed a small increase in Q3 2014 although there were some big variations by sector.
• 2014 saw big decreases in public housing and industrial new orders, although the industrial sector is expected to bounce back fairly quickly in 2015.
- Their analysis of regional performance shows that London and the southeast accounted for around 36% of total GB output in 2014. These two are expected to continue to grow strongly although 2015 will see a better performance from the other regions.
Construction Equipment Hire reflects latest trends
UK based construction equipment hire company, Mr Plant Hire, supplies the building, maintenance, mechanical and electrical industries around Enfield, London and the Home Counties and reports steady growth in their business over the past 12 months.
Mr Plant Hire’s comprehensive range of plant hire includes powered access hire, lifting equipment hire and a wide range of diggers to accommodate all excavator hire needs.
Contact Us now for further details or a fastquote for your specific plant hire requirements