Market Analysis
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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
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Super Deductions - Update
Super Deductions - Update
Since the announcement of Super Deductions (130% for main pool plant & machinery and 50% for special rate pool plant & machinery) in the Budget there has been some uncertainty regarding the extent to which these would be available to property investors.
By The Tax Team
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January's resilient output figures indicate the sector's recovery is back on track and investor confidence is returning
January's resilient output figures indicate the sector's recovery is back on track and investor confidence is returning
BEIS launches two new sustainability-focused consultations for non-residential buildings, recovery, transformation and building trust: CLC sets core priorities for 2021 and beyond, MIPIM: speakers suggest overhaul in post-pandemic office requirements could yield opportunities for redeveloping and reimagining workplaces and urban spaces, New Building Safety Regulator begins recruitment drive for 700 staff to help oversee safety of tall residential buildings
By Michael Urie
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UK construction PMI sees solid return to growth in February after a setback at the start of 2021
UK construction PMI sees solid return to growth in February after a setback at the start of 2021
UK construction PMI sees solid return to growth in February after a setback at the start of 2021, CLC to publish performance data showing net zero carbon progress, G&T market analysis indicates fairly healthy project pipeline among UK’s biggest main contractors, little emphasis on green policies as Chancellor made key announcements in Budget 2021, Timber Trade Federation: timber firms experiencing logistical difficulties and inflated costs amid record demand
By Michael Urie
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Budget 2021: An Investment-led Recovery
Budget 2021: An Investment-led Recovery
With the recovery from COVID-19 being the main focus of the Chancellor’s Budget there is a welcome shot in the arm for the construction and property industry.
By The Tax Team
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Construction helps UK economy avoid a double-dip recession
Construction helps UK economy avoid a double-dip recession
Government open to possibility of reviewing current immigration policy for construction workers, RIBA Survey: London posts positive workload index for the first time since lockdown 1, construction new order figures in Q4 2020 paint a strong picture of winners and losers on a sector-by-sector basis, contractors cut the time they are prepared to honour fixed-price contracts according to RLB survey, commodities “supercycle” fuelling above-trend price rises as demand for copper streaks ahead of constrained supply and production capacity.
By Michael Urie
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Market Update Webinar - February 2021
Market Update Webinar - February 2021
This market update webinar includes the latest market views, an overview of G&T's Tender Price forecast for Q1 2021, as well as an expert panel discussion on the likely impacts of the Brexit deal. Speakers included G&T partners James Angus, Rachel Collins, Will Galley, Kerry Gibbs, Gavin Murgatroyd, Nick Rowe and Rob Webber.
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Market Update - February 2021
Market Update - February 2021
G&T’s Market Update for February 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. We also outline our latest trade package and tender price inflation forecasts based on our quarterly surveys and regular discussions with the supply chain.
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CPA forecasts a 14% rise in construction output in 2021 on the back of vaccine rollout
CPA forecasts a 14% rise in construction output in 2021 on the back of vaccine rollout
CPA forecasts a 14% rise in construction output in 2021 on the back of vaccine rollout, ONS: 93% of construction firms not experiencing import challenges – a stark contrast to UK manufacturing firms, IHS Markit: construction activity dipped for the first time in seven months in January 2021 as output fell and new order growth subsided, public Accounts Committee highlights risk that tax payers won’t get value for money on £600bn infrastructure pipeline, Sadiq Khan adopts a much-altered London Plan four years after starting work on it, Construction material prices continue to rise due to higher raw material costs and an ongoing supply/ demand imbalance
By Michael Urie
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Brexit: Changes for UK Construction
Brexit: Changes for UK Construction
To the relief of many working in the UK construction sector, the UK signed an historic Trade and Cooperation Agreement (TCA) with the EU on 30th December 2020. The TCA ensures tariff-free trade between the UK and European trading block, but construction will have to come to terms with a host of new rules and regulations that will impact the procurement and delivery of projects.
By Michael Urie
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Targeted Property Investment: We Have the Framework...Let’s Use It!
Targeted Property Investment: We Have the Framework...Let’s Use It!
In this short article, G&T’s Construction & Property Tax Advisory team ask the UK government to start incentivising business to help drive positive growth and good sustainability credentials.
By Jared Carver
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Market Update - October 2020
Market Update - October 2020
G&T’s Market Update for October 2020 provides an overview of the London construction market. In light of the disruption caused by the coronavirus (COVID-19) pandemic and its impacts on the construction industry, the report highlights changes to key macro-economic indicators over the reporting period, as well as significant construction-specific metrics such as the UK Purchasing Managers’ Index, construction output, commercial and residential new orders, key material costs, trade package inflation and tender price trends and forecasts.
By Michael Urie
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Market Update - June 2020
Market Update - June 2020
Our June Market Update includes insights from our latest contractor survey, which found that productivity levels on site in England and Wales are generally averaging around at 70-90% of pre-COVID levels.
By Michael Urie
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Market Update - February 2020
Market Update - February 2020
G&T’s Market Update (February 2020) provides an overview of the UK construction market
By Michael Urie
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Getting Britain Building
Getting Britain Building
Whilst the effects of COVID-19 had a significant impact on the new Chancellor’s first post Brexit Budget, a common theme remained the levelling up of the UK economy. Here we review some of the more important tax and spending plans that will affect the construction and property sectors.
By Jared Carver
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Budget 2018 - Construction and Property Highlights
Budget 2018 - Construction and Property Highlights
As the 2018 growth forecast is upgraded from 1.3% to 1.6%, a number of the proposed measures in the Budget 2018 will impact the construction and property sector.
By Jared Carver
