Results are out for the locations of contracts awarded in June, which show the difference over the UK for a standard calendar months construction contracts awarded. The total value of contracts awarded was £6.2bn in June based on a three month rolling average, and you can see clearly where these contracts were awarded by region in the below chart.
These stats are quoted from www.building.co.uk, and the figures above take into account all sectors of construction.
£2bn Wood Wharf - London
The number of Quantity Surveying jobs in London is constantly on the rise, with our main Contracting and Consultancy desks becoming ever more busy here at Maxim. It’s no surprise that London holds the largest figure when it comes to construction – despite it being the smallest region on the figures table (by area). The London figure is contributed to largely by the £2.1bn contract at Wood Wharf, part of the canary wharf development. This is a commercially led 10 year project that includes residential units, hotel uses and also leisure facilities.
Along with major infrastructure projects such as Crossrail, HS2, Thames Tideway, and even Crossrail 2 which is being talked about, the Wood Wharf project shows just how strong the building sector of construction is also. The number of building and civil engineering/infrastructure jobs we are filling from our UK office is constantly rising, as is the need for more Quantity Surveyors seeking permanent work in the region!
Building vs. Infrastructure by %
Commercial and retail projects had the highest proportion of contracts awarded by value in June with 31% of the total. This of course was contributed to by the Wood Wharf project. The infrastructure sector had a strong showing in June with 27%, being contributed to by the previously mentioned Wind Farm, and also 2 improvement contracts for the A14 with a total value of £600m for the scheme.
Commercial and Retail – Increase in Activity
The total value of contracts in the commercial and retail sector was £1.2bn in June, based on a 3 month rolling average. This is almost a 100% increase from May 2015 and over a 40% increase from June the previous year. Total value has indicated a slight increase overall from earlier this year (construction activity wise in the commercial and retail sector), and also an increase from last year, meaning a rise in activity in the shorter and longer term.
The article from Building Magazine highlights the strength of the current UK construction market, for the short and long-term. With an ever expanding market London, the contracts being awarded highlight the need for good Quantity Surveyors to fill our opportunities in the area. I personally have had a lot of success bring people back from overseas to London or finding Quantity Surveyors suitable opportunities in London who relocate from other areas of the UK. Now would be a fantastic time to move to London for work as a Quantity Surveyor, not only as it is a good time to find an opportunity through Maxim but also to gain experience on some of the largest and most exciting infrastructure projects in the UK.
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