Lack of London office space drives a 24 per cent increase in office construction May 19, 2015 The amount of office space under construction in London rose by 24 per cent in the six months to the end of March, rising to 9.5m square feet. A report by Deloitte shows the improving economy is driving a rise in speculative building, with more and more office space available to let. A dearth of [...]
Construction booming in the City as companies vie for office space May 18, 2015 Building activity in central London has soared by 24 per cent over the last six months, as developers scramble to meet demand for space, which remains in short supply, according data released today. Deloitte Real Estate’s latest London Office Crane Survey said there were 31 new starts in the period contributing 4.4m square feet (sq [...]
UK construction sector boosts GDP hopes as output bounces back – although it misses expectations May 15, 2015 Britain's construction industry rebounded in March bringing an end to four months of decline, boosting hopes that the disappointing first quarter gross domestic product figure will be revised upwards. Total construction output rose 3.9 per cent month-on-month, following a 0.3 per cent fall in February. However, this was slightly below analyst estimates for an increase [...]
Construction growth drops on General Election uncertainty May 5, 2015 Growth in the building sector fell to its slowest pace in almost two years in April, according to an influential study from Markit yesterday. The purchasing managers’ index fell to 54.2 from 57.8 in March – still firmly above the 50-mark that indicates growth, but a sharp slowdown in the pace of rising output. The [...]
Rising demand drives up total construction sector turnover May 4, 2015 UK construction firms saw a sharp rise in turnover last year, according to figures released today by BNP Paribas Leasing Solutions. Total turnover of the construction sector jumped six per cent year-on-year to £218bn in 2014. It is now 20.7 per cent above the low reached in the 2009-10 recession of £180bn. The surge in [...]
Pound falls to five year low against the dollar on disappointing construction data as European shares hit their highest in 15 years April 10, 2015 The pound fell to a five-year low in mid-morning trading after data from the Office for National Statistics (ONS) showed weak growth in the industrial and construction sectors. The currency dropped 0.64 per cent to $1.4619 in early afternoon trading, having dipped as low as $1.4605, after growth in the UK's industrial output fell to [...]
UK construction growth slows more than expected ahead of General Election but outlook is most positive in nine years April 2, 2015 The UK construction sector has disappointed, with official figures showing growth has slowed more than expected in the run-up to May's General Election. The latest data from Markit's purchasing managers index survey came in at 57.8 in March. Although that's still way above the 50 mark which denotes growth, it's significantly down from 60.1 in [...]
Double General Election poses major threat to construction March 29, 2015 The construction industry could suffer a sharp loss of output if there are two General Elections this year, a public sector procurement specialist said today. A second General Election could occur if the government fails a motion of no confidence without an alternative being put forward. Analysis of data going back to 1955 by Scape [...]
Sterling falls to five-year low after Carney’s comment, disappointing construction data March 13, 2015 The pound slumped to its lowest level in five years against the dollar after poor construction data and Bank of England governor Mark Carney's rate comments. Sterling fell over a percent against the dollar to trade as low as $1.4710, or its weakest since June 2010. Construction suffered its worst fall in more than a [...]
UK construction suffers worst fall in more than a year in January March 13, 2015 UK construction suffered its worst fall in more than a year in January, due to a heavy decline in house-building. Output in the construction industry fell 2.6 per cent from a month earlier, when it had risen 0.6 per cent. The reading came in way below economists' expectations – many had forecast a rise of [...]