Published on : Aug 06, 2015
Growth of the construction industry in Britain was recently hampered due to low momentum of civil engineering and household construction. The construction industry in Britain measured a slow and steady growth after the slowdown. This was considered to be the weakest expansion of the market since the second half of 2013. This slowdown reflected in confidence of the construction firms in Britain. Later, the construction market in Britain was able to speed-up their construction activities to cope up with the earlier loss.
The British government, last month, published a plan to build new residential properties by removing the obstacles. This will be done by introducing new technologies in construction equipment, HVAC (heating, ventilation, and air conditioning), carpentry, and construction chemicals. Tim Moore, the market senior economist, said that increase in commercial activities is the main reason for growth in the construction market in Britain. Commercial activities overpowered the market’s weakness in residential building and civil engineering trends.
Lot of views were shared by the survey respondents regarding major growth constraints that bothered the construction market in Britain. Factors such as scarce supplier capacity and shortage of skills were two of the major constraints for the residential building sector. Lack of advancements in construction equipment for cooling, heating, and ventilation, also led to the slowdown of house building activities. Due to all this, extra time was taken by the contractors to complete planned house building projects. Shortage of sub-contractors in the construction market in Britain lowered the confidence of the contractors from across the country.
To boost the growth of the construction market, many construction firms in Britain appointed new staff in July. With this, fast growth in commercial property projects is expected in near future. This will in return stabilize engineering and building of houses in all the regions of Britain. Appointment of new staff and introduction of new construction equipment will boost the confidence of contractors in Britain.