Construction work coming in at quickest rate seen this century

 
Chris Papadopoullos
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The government’s £36bn investment in infrastructure projects is boosting confidence
THE CONSTRUCTION sector is continuing to pick up momentum, with workloads rising at their quickest rate for 20 years, new survey data shows today.

The survey undertaken by the Royal Institution of Chartered Surveyors (Rics) uses net balances – the proportion of people giving a positive response minus the per cent of those giving a negative one.

The net balance of firms report­ing an increase in workload over the third quarter rose to 46 – its highest level since 1994 and up from 41 per cent in the second quarter of the year. This marks the eighth consecutive quarterly rise in workloads.

Private commercial property and house builds lead the boom, scor­ing record high net balances of 58 and 59 respectively.

“Unprecedented housing demand, the bounce back from a very deep recession and govern­ment’s commitment to invest £36bn in more than 200 infrastructure projects is driving much needed confidence across the industry,” said Alan Muse, Rics director of built environment.

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