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Housing sector fuels construction industry comeback

construction industry comeback

 

As one of the largest industries in the UK, the construction sector employs an estimated 3.1 million workers. The industry also exports billions of pounds worth of products and services each year. In Quarter 1 of 2020, the construction industry contributed £29.5 billion to the UK economy [1]. Therefore, an increase in construction activity will help significantly in driving the national economic recovery post-COVID.

Since the beginning of the pandemic, we have seen the construction industry suffer some blows. However, it looks like the sector is set for a rebound.

Housing Secretary, Robert Jenerick, recently announced Government plans to help fill the £5.1bn hole in the industry. In order to do this, the plans include approving thousands of infrastructure and housing projects with a £1.3bn investment. The investment comes as part of the Government’s plan to deliver upgrades to local infrastructure. [2]

The housing boom

The housing sector has seen a strong rebound since the first site stoppages in March 2020. In September there was a rise in activity in the construction industry thanks to a mini housing boom. Elliot Kerr, Economist at HIS market said;

‘’Growth in UK construction actively rebounded strongly in September. There were faster increases in activity in both the housing and commercial subsectors.’’

He continued;

‘’Forward-looking indicators point to a sustained rise inactivity. With new work increasing at the quickest pace since before the lockdown and sentiment towards the 12-month outlook at its strongest for seven months.’’ [3]

It is worth noting that in the Bricklaying subsector, public sector funding commitments have buoyed demand despite rising economic pressures. [4]

Whilst construction output is estimated to rise 18.0% overall next year, it should be noted that this is compared to the low base activity the industry saw in 2020 and will still be lower than pre-COVID levels. [5] The future is looking bright for the construction industry. However, the predictions are all subject to the measures that will be in place at the time.

Construction industry comeback

The Government is not only investing in the housing sector, but they also recently made cash injections into commercial projects such as, HS2 and Green Home Grants. These projects will help encourage the development of skilled professionals. Additionally, they will make the industry more attractive to people considering joining the sector.

With the predictions for increasing demand in construction and for skilled professionals, businesses are forward planning for training and development of workers.

At Complete Training Solutions we offer a range of courses that will support the training and development of skilled professionals in the industry. Our bespoke courses cover everything from Health and Safety to Rope Access training, our team of highly experienced trainers CTS can help your business meet growing demand.

Plan now for the future of your business, visit www.completetrainingsolutions.co.uk too see how our team can help you and your workers.

 

Notes to editors:

  1. https://www.pbctoday.co.uk/news/planning-construction-news/construction-industrys-post-covid-recovery/84324/
  2. https://www.pbctoday.co.uk/news/planning-construction-news/construction-industrys-post-covid-recovery/84324/
  3. https://www.ft.com/content/6396d3af-269d-49cd-9225-fa480325e8a6
  4. https://my.ibisworld.com/uk/en/industry/f43.999/industry-at-a-glance
  5. https://www.pbctoday.co.uk/news/planning-construction-news/covid-19-construction-industry-2/80363/