Construction set for an exciting 2018
Having read the positive forecasts in Glenigan’s Construction Outlook for 2018 last month, Longley Concrete is looking forward to a strong year ahead for the industry.
According to the analysis experts the market will be much more stable over the next 12 months, with significant growth anticipated in the hotel and leisure, education and industrial sectors. This growth is set to come from areas outside of London and the South East, meaning the Midlands, Scotland and North of England are all expected to be the strongest performing regions.
Big developments are already planned in the Yorkshire area that back up these claims. Take the University of Huddersfield as an example, where a new £30-million home is being built for the art, design and architecture school.
Such projects have inevitably played a part in Glenigan’s prediction of a 10% rise in education project starts. It also mirrors the growing number of students in some of the UK’s larger cities, as university expansions will result in sustained increases in accommodation spaces.
As touched on, another bright spot is the industrial sector. Following on from the 17% surge in the value of new project starts in 2017, it is projected that 2018 will see an extra 6% upturn to £3.639 billion.
With hotel and leisure companies continuing to benefit from the boost in overseas tourism thanks to the lower pound, Glenigan furthermore forecasts a huge 20% expansion in project starts as investment in the sector gathers pace.
In addition to the above, recent Government public sector investment should benefit the construction industry in the long term and help to ensure that these growth figures extend way beyond this year.
If you would like any information on how Longley Concrete’s precast concrete products can help your next building project, please feel free to get in touch today by either calling 01924 464 283 or filling out this enquiry form.