Which construction sectors will be the winners and loser in 2014…?
As we look ahead into 2014, we have analysed all the latest market data and used the results of our latest construction forecast to help you with your planning. Here are the predictions for 2014.
- New public housing – driven by the Government’s Affordable Housing programme which has a huge target to hit by 2015
- New private housing – driven by the Government’s help to buy scheme and a thawing in the mortgage market. Private rental market to be a key niche growth sector to meet demand from the growing number of people who can’t afford to buy their own home
- Repair and maintenance private housing – the rise in transaction numbers to help support growth, as will a rise in consumer confidence as house prices rocket
- Infrastructure – driven by Crossrail and the need to upgrade the UK’s ageing infrastructure network. Road output to return to growth after recent declines, with rail remaining a star performer
- Commercial – driven by improved business confidence and a more stable financial backdrop. This will allow larger developments to get off the ground or be re-started, with London and the South East the main driver of growth
- Universities – the need to improve facilities to attract students as fees rocket to make this a buoyant market.
- New public non-housing – despite the large declines of 2011 – 13 ending, output levels are not expected to show any sign of growth as the Government’s spending cuts continue to bite
- New private industrial – weak manufacturing output, the Eurozone remaining subdued and an oversupply of vacant space all combine to throttle growth in 2014
- Energy retrofit market – the slow uptake of the Green deal due to a lack of consumer understanding and unattractive loan rates will keep this potential growth sub-sector subdued.
Read a detailed breakdown of construction order and output figures, by sector, up to Q3 2013.