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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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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%.
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.
07 June 2013
18-Year-Old Jailed For Rape Of 11-Year-Old Schoolgirl
An 18-year-old man who raped an 11-year-old girl in a north London park, has been jailed for life, with a minimum term of eight years. Opemipo Jaji, of Edmonton, denied the attack in Jubilee Park, Enfield, north London in November last year. The jury had heard that Jaji had followed the girl off a bus as she made her way home from school.
18-Year-Old Jailed For Rape Of 11-Year-Old Schoolgirl
An 18-year-old man who raped an 11-year-old girl in a north London park, has been jailed for life, with a minimum term of eight years. Opemipo Jaji, of Edmonton, denied the attack in Jubilee Park, Enfield, north London in November last year. The jury had heard that Jaji had followed the girl off a bus as she made her way home from school.
14 June 2010
Public Sector Slow-down Hits Construction
The value of construction projects starting on site in the three months to May 2010 fell back to below 2006 levels as fewer public sector project started on site following the General Election. The Glenigan Index for May was 10 per cent up on a year ago, but lower than the Index for March and April this year.
Public Sector Slow-down Hits Construction
The value of construction projects starting on site in the three months to May 2010 fell back to below 2006 levels as fewer public sector project started on site following the General Election. The Glenigan Index for May was 10 per cent up on a year ago, but lower than the Index for March and April this year.
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