By Legal Futures Associate Search Acumen [1]
- Monthly construction output grew 1.3% in volume terms in September 2021 compared with August 2021.
- This is the first monthly increase since June 2021 and the largest since March 2021, when output increased by 4.8%.
Andy Sommerville, Director at Search Acumen, says:
“Supply chain disruption combined with rising costs and labour shortages have caused rife delays across UK industries during the third quarter of this year. This latest dataset shows that while the construction industry was not exempt from this disruption, a recovery is here with activity in the construction industry picking up compared to August.
“However, there are a series of additional challenges that the construction industry will have to face. Despite the Government’s ambitious planning reforms announced last year, many remain in a holding pattern. In some instances, this means that builders are unable to develop properties on protected or green belt land in areas where job opportunities are concentrated.
“COP26 has equally thrown up a challenge and opportunity for housebuilders that are able to support the Government’s ambitions to make UK homes more energy efficient. The construction companies that are already meeting sustainability criteria are the ones most likely to get ahead in the coming months and years.
“Looking forward, we can expect an uptick in activity especially given the funds being allocated to fixing unsafe cladding. Prospective buyers who’ve been slammed with crippling costs and unable to sell their properties will now be able to enter the property market with confidence. The market is expected to continue to fire on all cylinders and it will be down to conveyancers and property lawyers to maintain the smooth running of the markets’ relentless rhythm. The uptake of technology and digitisation will be crucial to improving efficiencies as transaction volumes peak.”