Reaction to the latest RICS Construction Market Survey

Reaction to the latest RICS Construction Market Survey

Gateley Vinden says optimism will only get the construction industry so far.

The latest RICS Construction Market Survey suggested that Brexit uncertainty has led to a slowdown in growth in the construction industry but surveyors remained upbeat about the prospects for the next 12 months.

The Survey reported that despite 19% more respondents recording that construction workloads in the UK had increased rather than fallen in the third quarter, this was the lowest reading since the second quarter of 2013.

69% of respondents said that financial constraints, anecdotally linked to Brexit remained the biggest block on growth.

Private house building experienced the highest levels of growth across the construction sectors. 27% more chartered surveyors reporting workloads had risen rather than fallen. However, RICS raised concerns about the type of properties being built, as many were aimed at the higher end of the market, rather than dealing the areas of real need such as affordable housing.

Martin Bennett, a Regional Director of Gateley Vinden – a leading multi-disciplinary consultant company to the built environment said: “This latest analysis confirms what many of the other recent industry surveys have been reporting – Brexit uncertainty has stifled the construction industry.

“Whilst it’s good to hear industry professionals are expecting to see an increase in work over the next 12 months, optimism will only get you so far. The construction industry needs the full support of the government to justify this positivity and achieve real sustained growth.

“It is encouraging to see an increase in private house building but I think it is a big concern that the many of these properties were targeted at the high end of the market.

“We need the government to deliver a housing programme that can provide affordable housing to help the people who are most affected by the shortage of housing.”