Today, Glenigan, the construction industry’s leading insight and intelligence experts, releases the June edition of its Construction Review.
This monthly report provides micro-analysis of Glenigan’s comprehensive and accurate construction, data as well as macroeconomic commentary, offering indispensable information covering: market performance, Top contractor and client league tables, The Glenigan Index, Economic outlook, Sector performance analysis.
For the housebuilding sector, the Glenigan June review indicates reasons for cautious optimism. Private new housing output grew by 3% but was 1% down on a year ago. Social new housing output also grew, rising by 10% against the preceding three months but was 16% lower than a year ago.
Totalling £6,432 million, Residential Rolling Total of Contracts Awarded (£m) starts during the three months to May were 67% higher than a year ago but 24% lower than the same period in 2019.
Main contract awards increased 71% against the previous year and detailed planning approvals climbed 27%.
Both were higher than the same period in 2019.
The Industry Overview Overall, the outlook is positive with construction recovery gathering momentum. The value of projects starting on-site averaged £5,395 million per month during the three months to May. This represents a 5%
rise against the preceding three months and 49% higher than the lockdown disrupted period a year ago.
Commenting on these findings, Glenigan’s Economic Director, Allan Wilen says, “Encouragingly, further growth is expected with both main contract awards and detailed planning approvals strong. However, supply and cost of materials may dampen the pace of growth for housebuilders and the wider sector. Further progress will be needed over the summer to bring construction activity back to pre-pandemic levels.”