IQ Features

  • Photo of Further growth forecast as expanding homebuilder reports £24m rise in revenue post-Covid

    Further growth forecast as expanding homebuilder reports £24m rise in revenue post-Covid

    A HOUSEBUILDER is celebrating a major post-Covid recovery after seeing annual revenues grow by more than 200 per cent. After posting revenue of £37m for the 2021/22 financial year – a rise of nearly £24m from the previous year – Cumbrian-based Genesis Homes is anticipating another successful 12 months as it looks to nearly double the amount of new homes it builds. The company, which acquired fellow Cumbrian homebuilder Russell Armer Homes in April 2021, legally completed on 96 new homes during 2021/22 and is well on track to achieve or exceed its current build target for 2022/23 of 176…

    Read More »
  • Photo of Impressive UK construction growth unlikely to continue, says GlobalData

    Impressive UK construction growth unlikely to continue, says GlobalData

    GlobalData currently forecasts that construction output growth will stand at 3.4% in 2022 as a whole, which means that in constant prices terms, output will just be marginally below the 2019 level. However, the downside risks to the outlook have intensified given the sharp increase in prices for key construction materials, supply chain bottlenecks, and higher energy costs. Danny Richards, construction analyst at GlobalData, comments: “Construction output in the UK has continued to edge higher in recent quarters having rebounded quickly in late 2020 following the slump in Q2 2020, when the country went into lockdown to contain the spread of…

    Read More »
  • Photo of Construction output increases for fifth consecutive month

    Construction output increases for fifth consecutive month

    Monthly construction output grew 1.7% in volume terms in March 2022 compared with February 2022. This is the fifth consecutive month of growth and is the largest single-month growth since January 2022 (2.1%). Monthly construction output in March 2022 is now at its highest level (£14,944m) since monthly records began in January 2010 (Figure 1). The stormy spells caused by storm Dudley, Eunice and Franklin brought heavy rain and winds across much of the country and, for the construction industry, lots of working days were lost during this time. However, demand continued to be strong and anecdotal evidence received from…

    Read More »
  • Photo of Augmented reality would attract young talent to ageing construction workforce, says GlobalData

    Augmented reality would attract young talent to ageing construction workforce, says GlobalData

    Giving construction workers access to technology such as augmented reality (AR) will not only combat soaring resource costs, but help attract young people to construction roles, says GlobalData. The company notes that, while AR could give the industry a much-needed reinvigoration, a large number of executives are not planning to invest. According to GlobalData’s report, ‘Augmented Reality (AR) in Construction’, around 55% of construction industry executives surveyed by GlobalData in late 2021 intend to invest in AR within the next two years. However, the same survey reveals a whopping one third have no plans to buy into the technology. Robert…

    Read More »
  • Photo of Small, local build companies hit hard by delays and soaring costs

    Small, local build companies hit hard by delays and soaring costs

    Small, local build companies have been hit hard by rapid inflation and materials price rises with uncertainty on the impact of the war in Ukraine looming large for the sector. According to the latest Federation of Master Builders (FMB) State of Trade Survey, prices are hitting bottom lines with 98% of build companies having experienced material cost increases, with 83% passing these costs onto the customer. Material shortages and lack of skills still plague the sector causing job delays for the majority of FMB members. 73% of builders have delayed jobs due a lack of materials and 55% are delaying work…

    Read More »
  • Photo of House prices in February 2022: What’s changed?

    House prices in February 2022: What’s changed?

    UK house prices increased by 10.9% in the year to February 2022, up from 10.2% in January 2022. On a non-seasonally adjusted basis, average house prices in the UK increased by 0.5% between January and February 2022, up from a decrease of 0.04% during the same period a year earlier (January and February 2021). The UK Property Transactions Statistics showed that in February 2022, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 112,240. This is 20.8% lower than a year ago (February 2021). Between January and February 2022, UK…

    Read More »
  • Photo of Bad weather dampens construction output in February

    Bad weather dampens construction output in February

    Monthly construction output decreased by 0.1% to £14,610 million in volume terms in February 2022 compared with January 2022. This is the first monthly decrease since October 2021 (a fall of 0.9%) following three consecutive months of growth. Storms Dudley, Eunice and Franklin bought heavy rain across much of Great Britain between 16 to 21 February 2022. For the construction industry, this caused delays and led to some projects being suspended because more working days were lost on site than normal for this time of the year. However, some businesses reported a positive impact as they picked up repair and…

    Read More »
  • Photo of Construction output reaches highest level after two years

    Construction output reaches highest level after two years

    Monthly construction output increased by 1.1% in volume terms in January 2022 and is now at its highest level since September 2019; this follows an increase of 2% in December 2021 and is the third consecutive monthly growth greater than 1.0%. The increase in monthly construction output in January 2022 came solely from an increase in repair and maintenance (4.6%) as new work saw a slight decrease of 0.8% on the month. Anecdotal evidence suggested some of the issues in sourcing construction products in the latter half of 2021 had continued to ease. Along with the easing of supply chain…

    Read More »
  • Photo of UK Landscaper Barometer: November findings

    UK Landscaper Barometer: November findings

    OVERALL PERFORMANCE year-on-year Focusing on the trading month of November 2021, Autumn was drawing to a close. For many, priorities shifted – with one month to go until Christmas, things may have felt quieter as work was put on hold due to money being spent on shopping and other festivities. One participant mentioned: “Towards the end of November clients started saying they would think about moving things forward after Christmas.” Nevertheless, many participants are continuing to report increases and, on the whole, enquires increased. In a recent report released by the ONS, November saw a month-on-month increase of 3.5% in…

    Read More »
  • Photo of House prices in November 2021

    House prices in November 2021

    The latest house price data published on GOV.UK by HM Land Registry (HMLR) for November 2021 show that average house prices in the UK increased by 10.0% in the year to November 2021, up from 9.8% in the year to October 2021. Figure 1: Annual house price rates of change for all dwellings, UK, January 2006 to November 2021 Because of the impact of the coronavirus pandemic on both the number and supply of housing transactions, we might see larger revisions to the published UK House Price Index (HPI) estimates than usual. The latter half of 2020 saw the UK’s average…

    Read More »
  • Photo of UK Landscape Barometer September findings

    UK Landscape Barometer September findings

    All statistics are based on those surveyed and compare September 2021 to September 2020, with the exception of confidence; confidence is compared at the time of survey (November 2021) to the same time last year. OVERALL PERFORMANCE year-on-year Focusing on the trading month of September 2021, on top of the consistent chaos with rocky levels of material availability, September proved to be a difficult time to navigate as the petrol shortage took hold of the UK. This slowed down work for many in the industry as travel became an additional issue. Results have shown that lead times lengthened, and for…

    Read More »
  • Photo of Material and labour shortages dampening construction output

    Material and labour shortages dampening construction output

    Construction output fell 1.8% in October 2021, representing the largest monthly decline since COVID-19 sent construction into chaos in April 2020. This fall means the level of construction output in October remained 2.8% below the February 2020, pre-coronavirus level. Unfortunately, new work also fell by 2.8% from September to October 2021. Repair and maintenance however, remained unchanged. Similarly to recent months, anecdotal evidence from businesses continued to suggest that product shortages caused by supply chain issues leading to subsequent price rises in raw materials such as steel, concrete, timber and glass, were an important reason for the decline. At the…

    Read More »
  • Photo of City of London Corporation approves 24-storey office tower as developer confidence in the square mile soars

    City of London Corporation approves 24-storey office tower as developer confidence in the square mile soars

    The City of London Corporation has approved plans for a 24-storey office-led development on Houndsditch in the Eastern Cluster, the seventh tall building to be approved this year. The Planning and Transportation Committee backed Brockton Everlast’s scheme, designed by architects AHMM, which offers more than 56,500 sqm of office space as well as flexible retail/café space, community space, basement cycle parking and new public realm. The office areas are flexible and adaptable, specifically designed to meet new ways of working and to meet the demands of different types of business occupiers including incubators, start-ups and SMEs. Incubator space will be…

    Read More »
  • Photo of Boost in Levelling Up Funded projects

    Boost in Levelling Up Funded projects

    Regeneration projects are popping up all over the country at the moment as local councils bid for the Governments Levelling Up Fund. Key successful bids this week include: Leicester’s railway station revamp, Birmingham’s Moseley Road Baths and Balsall Heath Library restoration, and Portsmouth International Port’s crucial terminal extension. On Thursday this week (28 October) Leicester City Council announced it has successfully bid for £17.6m from the Government’s Levelling Up Fund towards a £22m scheme to remodel the station’s entrance and create a more attractive new gateway to the city centre. The station will be restored to its Victorian glory by…

    Read More »
  • Photo of Further decline in construction output highlights “loss of momentum”

    Further decline in construction output highlights “loss of momentum”

    As the industry battles the ongoing supply chain issue and labour shortages, monthly construction output fell 0.2% in volume terms in August 2021, now with the level of output 1.5% below its pre-coronavirus pandemic February 2020 level. New work remained flat this month (0.0%) with repair and maintenance falling (0.6%) on the month. Anecdotal evidence received from the Monthly Business Survey for Construction and Allied Trades survey suggested that the rising prices of raw materials such as steel, concrete, timber and glass, along with the difficulty in sourcing these materials for jobs, was a contributing factor to the monthly fall, which…

    Read More »
  • Photo of UK Landscape Barometer records third consecutive confidence decrease

    UK Landscape Barometer records third consecutive confidence decrease

    All statistics are based on those surveyed and compare June 2021 to June 2020, with the exception of confidence; confidence is compared at the time the survey was taken (August 2021) to the same time last year. OVERALL PERFORMANCE year-on-year The UK Landscape Barometer has reported that confidence has decreased for the third month in a row, now with only 31% feeling more confident. Unfortunately, this is a huge drop when compared to figures reported in May this year, where a staggering 92% of participants stated they were feeling more confident. It was after May that things appeared to deflate,…

    Read More »
  • Photo of The beginnings of scale for custom build housing

    The beginnings of scale for custom build housing

    The Government have published the results of the Bacon Review following a commission by the Prime Minister to set out a plan for a major scaling of self-commissioned housing across all tenures in England. Custom Build Homes (CBH) welcomes the Report by Richard Bacon MP for South Norfolk which has taken several months to prepare. If fully implemented by the Government, it will lead to a significant increase in custom housebuilding – enabling many more people to create and design homes that work for them. The Report which has been ‘warmly welcomed’ by Secretary of State for Housing Communities and…

    Read More »
  • Photo of Construction output falls for the third consecutive month

    Construction output falls for the third consecutive month

    According to the Office for National Statistics (ONS), construction in the UK fell by 1.3% in June, and this was the largest monthly decline since December 2020 when output fell by 2.2%. The 1.3% (178M) fall recorded in June was due to a decline in repair and maintenance (4.2%) offset by a small increase in new work (0.5%). Construction output in June 2021 was 0.3% (£39 million) below the February 2020 pre-coronavirus (COVID-19) pandemic level; new work was 2.1% (£188 million) below this level, while repair and maintenance was 3.1% (£149 million) above. In contrast to the monthly fall, quarterly…

    Read More »
  • Photo of Supply chain pressure and shortage of staff continue to hamper market

    Supply chain pressure and shortage of staff continue to hamper market

    The RICS construction and Infrastructure survey for Q2 2021 has confirmed that the supply chain is struggling under the huge pressure of keeping up with the increase in new housing and infrastructure across the UK. An increase in the private residential sector continued to lead in the construction market. 50% of respondents reported an increase in activity (this is up from 39% in the previous quarter, and is the strongest figure in the last six years). And, the infrastructure sector also saw a rise, with a net balance of 45% seeing an increase in activity (this is up from 34%…

    Read More »
  • Photo of UK Landscape Barometer – May findings

    UK Landscape Barometer – May findings

    All statistics are based on those surveyed and compare May 2021 to May 2020, with the exception of confidence; confidence is compared at the time of survey (July 2021) to the same time last year. The material shortage, perhaps unsurprisingly, continued to have a damaging effect on the industry. As a result of the ongoing lack of material availability, things appeared to finally start to slow down. Torrential rain dampened construction output, it dipped by 0.8% according to the ONS. And in addition, the UK economy also experienced a slow-down despite major lockdown restrictions lifting. Participant comments expressed that commercial…

    Read More »
  • Photo of A wet spring dampens construction output in May

    A wet spring dampens construction output in May

    The torrential rain throughout May has been blamed for a fall in construction output as businesses lost working days. Monthly construction output fell by 0.8% in May 2021 compared with April 2021, falling to £13,960 million, and this follows the 0.7% monthly decline in April 2021. Both of these declines in monthly growths come after an exceptionally strong growth in February and March 2021 (3.7% and 4.7%) respectively. The fall occurred because of declines in both new work (0.4%) and repair and maintenance (1.5%), and this represents a drop of £115 million in monetary terms when compared with April 2021.…

    Read More »
  • Photo of A 24-year-high in construction output growth

    A 24-year-high in construction output growth

    The bellwether IHS Markit/CIPS UK Construction PMI Total Activity Index hit 66.3 in June, up from 64.2 in May. This presenting the strongest rate of growth for 24 years (since 1997). Key findings included: a rapid rise in new business volumes during May, output growth accelerated to its strongest since September 2014, and cost inflation hit a fresh survey-record high. The May PMI data indicated that the UK construction sector was remaining strong on the path to recovery as output reached its strongest level since September 2014. The latest survey pointed to a rapid upturn in new business across the…

    Read More »
  • Photo of House prices in April 2021

    House prices in April 2021

    House prices UK house prices increased by 8.9% in the year to April 2021, down from 9.9% in March 2021. On a non-seasonally adjusted basis, average house prices in the UK decreased by 1.9% between March and April 2021, compared with a decrease of 1.0% during the same period a year earlier (March and April 2020). The North East showed the strongest house price growth. Prices rose by 16.9% in the year to April 2021. The lowest annual growth was in London, where prices increased by 3.3% in the year to April 2021. The UK Property Transactions Statistics showed that…

    Read More »
  • Photo of UK Landscape Barometer records first confidence decrease this year

    UK Landscape Barometer records first confidence decrease this year

    The trading month for April 2021 saw a change in the industry’s overall performance. For the first time in five months, the UK Landscape Barometer has reported that confidence across the industry has decreased. Indeed, a staggering 47% of participants have told us that they are feeling less confident compared to the previous month. Alongside this seemingly dramatic drop, the barometer can also report that there has been a drop in the number of participants experiencing increases across all areas – apart from for staff, where data remained roughly static. Nonetheless, national turnover, enquires, projects, and conversion were still receiving…

    Read More »
  • Photo of Construction output falls by 2% in April

    Construction output falls by 2% in April

    Monthly construction output fell by 2.0% in April 2021 compared with March 2021, falling to £13,961 million, and was the first month-on-month fall since December 2020 when output fell by 2.2% according to the Office of National Statistics. This comes directly after a strong increase in March 2021, where output increased by 5.8%. The fall occurred due to a decline in both new work and repair and maintenance work. New work fell by 2.9% (£261 million) in April 2021 compared with March 2021, which was the first fall since December 2020 when it fell by 3.4% (£290 million). Private new…

    Read More »
Back to top button
Close