A recent, forward-looking report from Barbour ABI has highlighted activity and growth in the construction industry by region and sector. Valuable information if you’re a construction professional looking for a new role.
A Sizzling Result for the Midlands
Birmingham has come out on top as a hotspot for residential, commercial and infrastructure projects, with its award of city centre regeneration contracts such as 1,500 apartments at the Connaught Square and Exchange square redevelopments, and office buildings at Paradise Circus, Arena Central and Snowhill.
There was a slightly cooler outcome generally for residential contracts, with every region in the UK dipping in 2016. However, £1.5 billion of residential contracts were awarded to the East Midlands in 2016.
Top residential project, in terms of value, is the £52.5 million University of Northampton Student Residences, due to be completed in 2018.
Commercial and infrastructure
East Midlands accounts for 5.9% of the UK GVA and boasts the lowest regional unemployment rate. Economic activity is in industrial production and manufacturing, distribution and transport, public administration and business services. Construction GVA grew in 2015 by 7.7%, making it the fastest regional growth in the UK that year.
Commercial contracts totalled £258 million in 2016, an increase of 36% from 2015.
The highest value infrastructure project noted in the report is the Lincoln Eastern Bypass, set for completion in June 2019.
As a business based in Leicestershire, Maxim Recruitment, we're keen to share the positive results of the report with prospective job seekers. We’re constantly monitoring the marketplace and like to keep up to date with upcoming projects, and trend changes in the industry. It’s great to know that there are areas of growth so close to home. It’s fantastic news for the UK construction jobs market and exciting for job seekers looking for new roles within all sectors of the construction industry.
140% Increase in Growth for London
With key sectors of economic activity focussed on real estate, financial, technical and business services, it’s no surprise that the capital is the largest regional economy. The value of contracts awarded in London in 2016 was £131.1 billion, with Hounslow and Richmond on Thames increasing contracted projects by 140% on the previous year.
Key residential projects for London currently are the £300 million Chrisp Street development, and the £262 million Woolwich Estates regeneration. Commercial contracts totalled £3.4 billion in 2016 with hotspots in Bromley and Kensington & Chelsea among others. Key infrastructure projects include the £350 million for the high profile HS2.
More promising news for construction professionals who wish to work in London. We already know that London office construction is enjoying a boom. And we welcome applications from all candidates.
A Warm Welcome
We are specialists in recruitment, servicing the building, civil engineering and consulting sectors of the construction industry. Our team is currently looking to fill 170 positions in London, and 111 in the Midlands, as well as the rest of the UK, Hong Kong and the Middle East. Quantity Surveyors, Project Managers and Quantum Experts are at the top of Maxim’s wanted list.