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Starts on site figures fall by almost half

by | 17 Oct 23 | Commercial Landscaping, News

Data shows an almost half (40%) drop in starts on site figures throughout quarter three when compared to the same period last year.

Construction insight provider, Glenigan has released its October 2023 edition Construction Review.

The review focused on the three months to the end of September 2023, covering (£100m) projects and underlying (<£100m) projects.

Data shows that starts on site fell by almost half when compared to last year, and by almost 10% than the preceding three months to September.

Main contract awards dropped by 27%, standing 12% lower than the same time in 2022. The report accredits the drop to the current economic challenges impacting the UK construction sector.

Detailed planning approvals were reported at 12% higher than the preceding three months, over 30% higher than the year before.

In comparison to last year statistics, residential starts fell by 26%, while private housing was down 23% and social housing build starts also dropped by almost 40%.

Regional performance varied, with London up by 10% during the three months to September but down 50% on the previous year. While the Midlands saw the largest drop in overall stats, with the West falling by almost half, and the East dropping by over half.

The report shows Northern Ireland, Wales, Yorkshire & the Humber and the North West also suffered falls in project-starts against both the preceding three months and previous year.

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