The UK residential construction sector is looking positive despite current macroeconomic uncertainty, according to the latest research.
In its construction market review for February, industry research firm Barbour ABI says British residential construction activity had a particularly positive February with £1.7 billion in contracts awarded, an increase of 13.1% in month-over-month terms.
(Source: Barbour ABI)
Residential unit numbers also increased – up by 5.4% on January at 9,850 units. Following residential in terms of contracts awarded was infrastructure with a 13.9% share and education with a 12.3% share.
Collated data shows the total value of construction contracts awarded in February 2019 was £5.4 billion which is a 0.5% decrease on January, but 10.6% higher than February 2018.
(Source: Barbour ABI)
The top project awarded during February was the £250 million redevelopment of Chelsea Barracks which sees Multiplex Construction Europe provide a total of 88 residential units in a single 5 storey structure.
The largest infrastructure contract was the £110 million redevelopment of the former Royal London Hospital site in Tower Hamlets to provide a new civic centre and council offices.
The largest overall education contract was in Edinburgh and was the £90 million redevelopment and extension of the Darwin Building for the University of Edinburgh.
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