UK construction contract awards are up by 11% on July 2018
23rd August 2019
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Each month we look at construction activity across the UK in all sectors. Reporting on contract awards, by value, geographical location and development type. Then drawing conclusions by comparing the figures to previous months and years.
In the three-month period ending July 2019, total construction contract awards were valued at £15.3 billion. An increase of 14% on the previous quarter and 13.8% higher than the comparable quarter ending July 2018.
The total number of contract awards in July was 1,011 across all sectors. This was an increase of 38.5% on June and is also 3.7% higher than July 2018.
Analysis by sector shows that the largest share of contract awards in July was held by the residential sector at 39.9%. Commercial and retail was the second largest sector this month with a 16.0% share, followed by the industrial sector with a share of 13.6%.
Regional analysis shows that London was the leading region for contract awards in June with a 32.1% value share. As a result, London was also the location for the 3 largest contract awards.
1. Stoney Street Commercial and Office development in Southwark which is part of the Borough Yards redevelopment and is valued at £300 million.
2. Wandsworth was the location for the second largest contract award and was Nine Elms Plots B & D – valued at £276.4 million
3. Old War Office in Whitehall development came in at third place – valued at £240 million
The planning pipeline continues to defy recent negative economic news. We have seen significant activity for contact awards across the UK for the past three months. Over the next three months, we will be rolling steadily towards the Brexit deadline. This may impact figures as uncertainty once again sets in.
Specification Online – UK construction contract awards are up
The Planner – Construction values rose in July
PBC Today – UK construction contract awards up 11% in July 2018
UK Construction Media – Contract values boosted in July