Construction Sector Autumn Update
It’s now properly Winter, so we’ve been looking at how the Construction Sector did over Autumn. There are a lot of reports and news articles on the subject – so here’s a few of them.
- An article on the Financial Times talks about how the Construction Industry is starting to use off-site methods to build new homes, and that this has it’s benefits. The article also suggests this may be more common in the future, as it’s a more productive way to build homes. Not only this, it’s also cheaper and faster than traditional building techniques.
- According to The Guardian, there’s a shortage in the amount of affordable social housing properties being built each year. The article says that they’ve fallen drastically, even though there are a lot of people on waiting lists, and calls for something to change with this.
- The Office For National Statistics has stated that in the third quarter of this year (July – September) the output of the Construction Sector rose to 2.1%. This is the strongest quarter of the year so far, and proves that the Industry is still doing well.
- The Government have announced they’ve awarded £22 million to 26 construction projects to train thousands of workers over the coming years. This will not only help address the skills shortage, it means the Construction Sector can grow with an influx of workers.
- Another article on Construction Global also hints that it is time the Construction Sector changed to address the issues of a lack of skills and jobs taking too long. It suggests that off-site construction could be the way forward to help improve productivity. The article also mentions a recent House Of Lords report that supports the idea of addressing these issues.
There seems to be a theme running through some of these articles – which has been continuing throughout the last few updates we’ve done. The Construction Sector has a few issues – like a skills shortage and uncertainty. There’s also a lack of productivity as it’s not adapting to new technologies as fast as other areas of the economy.
Both of these issues aren’t the only problems with the sector, but they are two of the main ones. We’ve written a lot of updates about the Construction Industry which also mentions them too. However, it seems that people are trying to improve the Industry. The Government have recently released a few plans and schemes to help address the skills shortage. Not only this, it seems like there are also more articles about new technologies such as off-site construction and how this could be a way forward. By using these new technologies, the sector might be able to grow. It’s not certain that these things will help or even happen, but people are trying to make Construction more productive with things like this, so progress is being made.
The good news here is that the sector continued to grow for some more of this year. Figures in September were good, and the figures for October aren’t available yet. However, the September data looks good, so maybe the October figures will be alright too.
Overall, the Construction Sector is doing well – it’s growing and people are trying to improve it further. This could be good as it might mean that the sector can improve even more. Making the Industry more productive and efficient could mean it is more profitable as jobs can be completed faster. Not only this, but that could then help it grow further.
There’s still uncertainty in the Construction Industry because of Brexit – something which has been causing uncertainty for years now. However, the sector is still doing well at the moment. There are a lot of people and organisations trying to improve it too.
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- https://www.constructionglobal.com/major-projects/does-uk-construction-industry-require-radical-overhaul .