London office market battles red hot construction costs PROPERTY Glimmers of light are beginning to emerge for property developers in the City and the West End as demand for office leases climbs to its highest quarterly take-up so far this year, but rising construction costs are expected to hold back recovery. Figures from property consultancy Savills, showed that the number of leases secured in [...]
Housebuilders facing extra £3.2bn in construction costs this year as prices spiral RISING COSTS UK housebuilders could face paying the hefty extra sum of £3.2bn per year as new-build construction costs are set to skyrocket. The average cost of construction for a new-build property is set to rise almost £18,000 per unit, research from property debt adviser Sirius Property Finance has revealed. Construction costs across the industry could total [...]
Sadiq Khan: London home-building ‘at risk of stalling’ amid hiked construction costs MAYOR OF LONDON Skyrocketing construction materials are slowing house-building progress in London, Sadiq Khan has warned. The Mayor of London warned new-build developments and extension projects were being hit by a cocktail of rising costs thanks to Brexit and the pandemic. Prices for materials, including steel, timber, and concrete, shot up 23 per cent last year, according to [...]
Rising construction costs will led to further house price growth September 30, 2021 House prices are expected to further soar thanks to increasing construction costs. Annual house price growth eased to 10 per cent in September, from 11 per cent in August, according to Nationwide Building Society. London was the weakest performing area of the UK in the third quarter of 2021 while the average UK house price [...]
Cost inflation and weak demand hurts Speedy Hire as construction sector struggles continue April 10, 2024 The group expects to announce its results for the financial year ended 31 March 2024 in mid-June.
Recession spreads to British construction as experts brace for a jump in unemployment and the cost of living January 6, 2023 British builders are being dragged into a slump by the recession that has taken hold in the wider economy, a closely watched survey has revealed.. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) final purchasing managers’ index (PMI) for the construction sector for December fell to 48.8 from 50.4. The reading means [...]
UK construction companies collapse in their hundreds as costs rise January 17, 2022 Hundreds of UK construction companies are collapsing each month amid rising costs, supply chain disruption and labour shortages.
The Notebook: Jo Streeten goes back to her old university November 6, 2023 The notebook is a place for interesting people to say interesting things. Today, it’s the turn of Jo Streeten, managing director at AECOM.
London pips Geneva as world’s most expensive city to build in April 16, 2024 Every city in the UK and Ireland sat within the top 25 most expensive locations to build in the world, excluding Belfast.
Comeback kid: Embattled energy trust seeks to restore London listing after delayed results January 23, 2024 The Asian Energy Impact trust is seeking to restore its London listing after publishing delayed annual and interim results, following months of controversy around the trust. In April, the trust’s shares were suspended after an issue was identified with its 2022 annual results, leading to ‘material uncertainty’ over the fair value of some of its [...]