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UK residential construction activity looking 'positive'

Publication Date: 25 Mar 2019 - By ReachX Team By ReachX Team
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Equity Fundamental Macro Equity Multi Asset UK Construction

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.

Disclosure:

I have no positions in any of the securities referenced in the contribution

I do not use any non-public, material information in this contribution

To the best of my knowledge, the views expressed in this contribution comply with UK law

I agree with the terms and conditions of ReachX

This contribution is for informational purpose and does not constitute investment advice nor is it an offer to sell or buy, nor is it a recommendation for any security.

ReachX Team

 

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