Market Analysis
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Market Update Q1 2022
Market Update Q1 2022
Back on track as growth returns! In our latest Market Update we’re seeing fluctuations in material prices and challenges ahead but an increase in new orders across the industry shows a positive attitude to securing future pipelines.
By Gavin Murgatroyd
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Infrastructure will be the major driver of growth in 2022
Infrastructure will be the major driver of growth in 2022
Supported by a strong five-year spending plan, infrastructure will be the major drive of growth in 2022.
By Michael Urie
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Indications of a robust and accelerated expansion of overall construction activity
Indications of a robust and accelerated expansion of overall construction activity
The IHS Markit/CIPS UK Construction PMI rose to 55.5 in November 2021, up from 54.6 in the previous month, indicating a robust and accelerated expansion of overall construction activity as commercial work rose the most since July.
By Michael Urie
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Market Update - November 2021
Market Update - November 2021
G&T's Market Update for November 2021 provides an overview of the UK construction market. Against a backdrop of ongoing supply chain issues and rising costs, our latest report highlights changes to key macro-economic indicators over the reporting period, as well as construction-specific metrics such as the IHS Market/CIPS UK Purchasing Managers' Index (PMI) construction output, new orders and key material costs.
By Michael Urie
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National Infrastructure Commission has set out nine priority areas most in need of investment
National Infrastructure Commission has set out nine priority areas most in need of investment
The National Infrastructure Commission has set out nine priority areas most in need of investment over the next 10-30 years in order to decarbonise the economy, protect the environment and 'level up' poorer regions.
By Michael Urie
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G&T Main Contractor Survey Report
G&T Main Contractor Survey Report
G&T's Main Contractor Survey report for October 2021 provides an overview of some of the key trends and themes generated from the responses given to our recent Main Contractor survey.
By Michael Urie
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Autumn Budget 2021 - Construction and Property Highlights
Autumn Budget 2021 - Construction and Property Highlights
The Chancellor’s theme for this Budget was to build a stronger economy for the British people. This was a fairly quiet Budget for construction and property. However, our Construction & Property Tax team have summarised the key issues for this sector.
By The Tax Team
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To Fix or Fluctuate
To Fix or Fluctuate
Over the last 25 years, UK Plc has had a relatively stable growing economy. Consequently, fluctuation clauses, intended to deal with variations in costs such as labour, transport and materials, are now often omitted from contracts. In fact it is quite likely that most construction professionals practising today have never worked on a project with fluctuating clauses. But, in the current economic climate where we are experiencing significant volatility in material prices, should we be reinstating these clauses to protect our clients? Or are there other measures we can take to manage this risk?
By John Alderson
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Government publishes National Infrastructure and Construction Pipeline 2021 policy paper
Government publishes National Infrastructure and Construction Pipeline 2021 policy paper
The Government has published the National Infrastructure and Construction Pipeline 2021 policy paper – a forward-look at the pipeline of planned projects and programmes.
By Michael Urie
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Strong pipelines in the month ahead are a cause for optimism
Strong pipelines in the month ahead are a cause for optimism
Strong pipelines in the months ahead are a cause for optimism, which should calm the nerves of firms concerned about a post-COVID slump. Project starts will see a return to pre-COVID levels in 2022, helped by the likelihood of the Government announcing a major retrofitting programme in the coming months.
By Michael Urie
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Market Update - August 2021
Market Update - August 2021
G&T's Market Update for August 2021 provides an overview of the UK construction market. Against a backdrop of ongoing disruption caused by the coronavirus (COVID-19) pandemic and new Brexit trading rules, our latest report highlights changes to key macro-economic indicators over the reporting period, as well as construction-specific metrics such as the UK Purchasing Managers' Index (PMI), construction output, new orders and key material costs.
By Michael Urie
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Construction activity in June expands at fastest pace since June 1997
Construction activity in June expands at fastest pace since June 1997
Construction activity in June expanded at the fastest pace since June 1997 according to the latest PMI data, largely thanks to a sharp rise in new orders. The index rose to 66.3 with sharp increases in business activity seen across all three main areas of the construction sector.
By Michael Urie
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M&E Contractor Survey
M&E Contractor Survey
G&T's latest M&E contractor summary report analyses some of the key themes and trends provided from the responses to our June 2021 M&E survey.
By Michael Urie
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Market Update Q3 2021
Market Update Q3 2021
This market update webinar includes the latest market views, an overview of G&T's Tender Price forecast for Q3 2021, as well as an expert panel discussion on the ongoing opportunities and constraints following the COVID-19 pandemic and current fluctuations in the market.
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COVID Recovery - Hold Your Nerve!
COVID Recovery - Hold Your Nerve!
We live in strange times – a saying perhaps never more used than over the last 16 months. As we look forward to a post-COVID normality, is normality what we will get? The construction industry has seen materials price increases across a whole range of areas, giving the highest increase for 15 years. What’s causing this sudden spike in prices and how do we navigate through this period of uncertainty?
By Mike Wood
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Construction work to the end of May 2021 up 5% on previous quarter
Construction work to the end of May 2021 up 5% on previous quarter
Glenigan's latest Construction Review shows that construction work starting in the three months to the end of May 2021 was up 5% on the previous quarter. The average value of jobs starting in the quarter was £5.395m - a 49% increase on the whole of 2020.
By Michael Urie
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New orders and output rise again in May's construction PMI survey
New orders and output rise again in May's construction PMI survey
New construction orders increased at the fastest rate since the survey began in April 1997 according to May’s IHS Markit/CIPS UK construction PMI. The total activity index rose to 64.2 in May (from 61.6 in April), indicating that the construction sector remains on a strong recovery path.
By Michael Urie
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Market Update - May 2021
Market Update - May 2021
G&T's Market Update for May 2021 provides an overview of the UK construction market. Against a backdrop of ongoing disruption caused by the coronavirus (COVID-19) pandemic and new Brexit trading rules, our latest report highlights changes to key macro-economic indicators over the reporting period as well as construction-specific metrics such as the UK Purchasing Managers' Index (PMI), construction output, new orders and key material costs.
By Michael Urie
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Output and new orders edge higher in Q1 but price pressures mount
Output and new orders edge higher in Q1 but price pressures mount
Deloitte’s latest London Office Crane Survey reveals construction starts rose 20% but most starts involve upgrading existing office stock, former NBS boss casts doubt on whether new post-Brexit certification rules will be ready in time, RIBA Future Trends Index show architectural practices remain upbeat on workloads, ISG report finds that UK’s built environment will need to reduce energy consumption by 80% to meet 2050 net-zero carbon targets
By Michael Urie
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Optimism grows over future workloads: RIBA Future Trends Workload Index highest since May 2016
Optimism grows over future workloads: RIBA Future Trends Workload Index highest since May 2016
UK construction job vacancies are now 7.7% higher than they were one year a go thanks to rise in new project starts, "Evidence-based metrics" needed to measure progress on net zero carbon according to construction minister, NLA Tall Buildings Survey finds that planning applications for tall buildings in London fell by nearly one-third last year, CPA predicting output growth of 12.9% in 2021 but commercial activity is expected to be muted, City of London Corporation plans to convert vacant offices into new residential units under its five-year recovery strategy
By Michael Urie
