RICS: UK construction sector buoyant
Surveyors have noticed workloads for private housing and infrastructure rise in the first quarter of 2018, with 30% more seeing a rise than a fall.
As a result RICS (Royal Institution of Chartered Surveyors) described the construction sector as ‘buoyant’ despite the looming spectre of Brexit.
Hew Edgar, RICS head of policy, said: “It’s very positive to see that workloads for much needed new homes and infrastructure are increasing.
“For three years our respondents have highlighted workloads rising in private housing, however whilst driving the growth in construction, the UK is yet to reach government’s target of 300,000 new homes per annum.
“The last time the UK built more than 300,000 new homes per year was in the 1970s when council houses accounted for around half of the total.
“Hopefully, this is set to change following the announcement to lift the Housing Revenue Account borrowing cap, which should encourage more local authorities to get back into building.”