The construction outlook is bright
The latest Building Bulletin, published by property consultant GVA, has predicted that the industry will continue to grow between 2014 and 2017.
The report, which studies development, the movement in material prices, labour costs, tender prices and the medium-term outlook for the sector, has a very positive sentiment. It credits rising capital values, low tender price inflation, supply shortages and increased finance availability with boosting the sector, and leading to much better than expected forecasts.
Private housing and infrastructure is expected to drive the majority of growth during 2014, with commercial activity showing significant growth by mid-2015. Public sector construction is forecast to resume a modest level of growth by 2015.