Construction sector set for renewed boom

 
Tim Wallace
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BRITAIN’S construction output could grow by as much as one-fifth over the next four years, estimates from the Construction Products Association (CPA) indicated today.

The group’s economists expect the £111bn per year sector to grow by 19 per cent by 2017, upgrading their forecasts as the UK’s housing market picks up.

In 2014 it expects an expansion of 2.7 per cent, picking up pace to 4.6 per cent in 2015.

And it believes private housing construction is leading the way with building starts up 19 per cent this year and 15 per cent in 2014.

“Construction is set to enjoy growth over the next four years as it recovers from its worst recession in over 35 years,” said the CPA’s Noble Francis. “This is mainly due to private housing, which is experiencing a rapid rise, and infrastructure, which is seeing a more gradual return to positive territory.”

However public sector work is more varied between industries.

Rail infrastructure work is expected to grow by 34 per cent by 2017 and energy infrastructure by 99 per cent. But public education and health projects are set to fall 11 per cent in 2013 and 2.4 per cent in 2014.