Construction sector to grow 18% by 2017, new report suggests

The level of activity in the construction sector is set to record an 18% growth by 2017, the Construction Products Association (CPA) has forecast within their latest report.

The main drivers behind this significant surge in activity will be private house building, together with growth in the infrastructure and commercial sectors, a news report on the matter can reveal.

The report suggests that construction output is expected to rise by 4.5% in 2014 and by a further 4.8% in 2015, while private housing starts are set to rise 18.0% in 2014 and 10.0% in 2015. Furthermore, commercial offices construction is expected to increase 7.0% in 2014 and 10.0% in 2015 while infrastructure activity is set to rise 10.1% in 2014 and 7.2% in 2015.

Dr Noble Francis, Economics Director of the Association, commented: “It’s important to note that private house building only accounts for 15% of total construction. Commercial, the largest sector, is expected to grow each year up to 2017. The offices sub-sector in particular has recently shown growth, though demand is mostly in Central London. We forecast offices construction to increase 7.0% in 2014 and 10.0% in 2015.

“We expect last year’s gains in the infrastructure sector to continue to 2017 when levels are anticipated to be 42.0% higher than in 2012. Recently, rail has been the fastest growing infrastructure sub-sector and the near-term growth in activity will be led by Crossrail and the Thameslink Programme. Another strong sub-sector is roads, which fell almost 50.0% in only two years but is forecast to grow every year to 2017 including 15.0% in 2014.”

This serious boost forecast for this segment is likely to bring about quite a significant rise in the number of workers employed in the construction industry.

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