Construction sector to have a strong 2013, predicts RICS
The UK construction sector will “turn a corner” this year due to increasing output, according to the Royal Institution of Chartered Surveyors (RICS).
Chartered surveyors are predicting a solid 2013 for the sector, due to certain figures from the final quarter of last year. A survey from the firm suggested 15 per cent more surveyors across the country reported they expected workloads to grow over the coming 12 months.
Upturn in both standard and sustainable construction
As a result, this small increase in reported workloads may help trigger an upturn in both standard and sustainable construction.
2013 will bring some better news for the construction sector
Constructionenquirer.com reports over this period, a net balance of six per cent more respondents indicated that activity had increased, with the most substantial gains being seen in infrastructure and private commercial development.
Simon Rubinsohn, RICS’ chief economist, also believes the Funding for Lending scheme should also help the industry recover this year. He commented on the upturn on building.co.uk:
“…If one believes the official data, there are signs that 2013 will bring some better news for the construction sector.”
“Most notably, the numerous measures that the government has introduced with a focus on infrastructure appear to be bearing some fruit. Critically, competitive pressures in the sector remain intense which is continuing to erode profit margins,” he added.
Author: Ashley Curtis Date Written: 10 January 2013