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19/07/2011
New Building Contracts Drop By Quarter
The underlying value of UK construction projects newly started was 24% lower for the three months to June compared to the same period in 2010 according to the latest data from construction industry analyst Glenigan.
Hotel construction in London fell 73% year on year, for example: "Last year saw a surge in hotel starts as clients pulled forward projects to ensure completion before the Olympics. The current lull is forecast to be temporary with the budget hotel chains expansion plans underpinning future growth," commented Allan Wilen, Economics Director at Glenigan.
Retail was the only sector to buck the trend with a 13% year on year increase as the major supermarket chains press ahead with their expansion plans.
Industrial and office construction starts were down 35% and 20% respectively as investors remain cautious against the backdrop of the weak economy and high inflation. Civil engineering project starts were 29% down due to a continued decline in infrastructure developments and a volatile utilities sector.
Residential construction was down 29% year on year as a result of private and public sector cuts. Private housing project starts were down 31% year on year, while social housing was down 26%.
"House builders continue to be reluctant to start new sites and are focussed on completing existing developments as the housing market remains sluggish. However the Government's Firstbuy programme will help to bridge the mortgage gap for first-time buyers and Glenigan forecasts that private house building will stabilise by the end of 2011. In contrast social housing will decline further as a result of continued public sector cuts," commented Wilén.
(CD/BMcC)
Hotel construction in London fell 73% year on year, for example: "Last year saw a surge in hotel starts as clients pulled forward projects to ensure completion before the Olympics. The current lull is forecast to be temporary with the budget hotel chains expansion plans underpinning future growth," commented Allan Wilen, Economics Director at Glenigan.
Retail was the only sector to buck the trend with a 13% year on year increase as the major supermarket chains press ahead with their expansion plans.
Industrial and office construction starts were down 35% and 20% respectively as investors remain cautious against the backdrop of the weak economy and high inflation. Civil engineering project starts were 29% down due to a continued decline in infrastructure developments and a volatile utilities sector.
Residential construction was down 29% year on year as a result of private and public sector cuts. Private housing project starts were down 31% year on year, while social housing was down 26%.
"House builders continue to be reluctant to start new sites and are focussed on completing existing developments as the housing market remains sluggish. However the Government's Firstbuy programme will help to bridge the mortgage gap for first-time buyers and Glenigan forecasts that private house building will stabilise by the end of 2011. In contrast social housing will decline further as a result of continued public sector cuts," commented Wilén.
(CD/BMcC)
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21 November 2008
Grim Figures In Building Index
The total value of new construction projects in the UK has fallen by 21% over the last year with residential projects down by more than 30%.
Grim Figures In Building Index
The total value of new construction projects in the UK has fallen by 21% over the last year with residential projects down by more than 30%.
09 September 2014
Year Two of Badger Cull Underway
The second year of a badger cull is now underway in Gloucestershire and Somerset. Almost 1,000 badgers are to be killed in the second year of the cull, which started last year in an effort to stop the spread of bovine TB. Some 1,800 badgers were culled in 2013.
Year Two of Badger Cull Underway
The second year of a badger cull is now underway in Gloucestershire and Somerset. Almost 1,000 badgers are to be killed in the second year of the cull, which started last year in an effort to stop the spread of bovine TB. Some 1,800 badgers were culled in 2013.
02 June 2011
Plans Set Out To Ensure Green Deal Won’t Rip Off Consumers
The Green Deal is the government’s flagship energy saving plan to transform the country’s homes to make them warmer and cheaper to run. From next year, people will be able to access up to £10,000 upfront to pay for energy efficiency work, repaying the costs through savings on energy bills.
Plans Set Out To Ensure Green Deal Won’t Rip Off Consumers
The Green Deal is the government’s flagship energy saving plan to transform the country’s homes to make them warmer and cheaper to run. From next year, people will be able to access up to £10,000 upfront to pay for energy efficiency work, repaying the costs through savings on energy bills.
21 February 2014
ONS Figures Show Year-On-Year Increase In Retail Sales
New figures from the Office for National Statistics have revealed a 1.5% drop in retail sales in January, down from a pre-Christmas boost of 2.5% but still 4.4% up on January 2013. Comparing year-on-year figures for January there was an 8% increase in non-food sales, with sales of household good increasing by 9.
ONS Figures Show Year-On-Year Increase In Retail Sales
New figures from the Office for National Statistics have revealed a 1.5% drop in retail sales in January, down from a pre-Christmas boost of 2.5% but still 4.4% up on January 2013. Comparing year-on-year figures for January there was an 8% increase in non-food sales, with sales of household good increasing by 9.
02 July 2013
Murder of 84-Year-Old And Stabbing Of 9-Year-Old Connected
Five men are currently being held in connection with the death of an elderly woman and the stabbing of a nine-year-old boy. The young boy was attacked on Monday afternoon at a skate park in Shipley, West Yorkshire, suffering injuries to his chest and arm.
Murder of 84-Year-Old And Stabbing Of 9-Year-Old Connected
Five men are currently being held in connection with the death of an elderly woman and the stabbing of a nine-year-old boy. The young boy was attacked on Monday afternoon at a skate park in Shipley, West Yorkshire, suffering injuries to his chest and arm.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
