UK Construction continues to grow
New research highlights that the construction industry has grown nearly 6% in early spring 2021, meaning that new work and repair and maintenance are £334m above pre-pandemic levels.
The research, conducted by specialist on-site storage company SiteStak, looked at the latest figures from the Office of National Statistics alongside UK Government data to discover the latest trends in building and construction.
In line with the increase in growth, new orders have surged by over £1.2m in Q1 of 2021 compared to Q4 of 2020.. This represents 12.2%, which also supports an increase in sales of SiteStak’s storage management system which is up around 45% year-on-year.
Of all UK new builds, 79% represent housing, which is the highest figure since 2000. Of this number, London is also seeing an 11% increase in housing builds since 2019. Further investigation into search data not only backs this figure but is encouraging for the industry, with the term ‘new build’ seeing increased interest over the last 2 years and searches for ‘new builds near me’ more than doubling between April 2020 and April 2021 (14,800 vs 33,100).
Although house builds are massively on the up, new infrastructure is leading the way across the construction industry as we’ve entered 2021, with high-grossing projects such as Euston HS2, HS2 Northolt Tunnels and HS2 Chiltern & Colne Valley all ones to watch this year.