What future for construction in the SE?
Published: 01 December, 2009
UK: Against a background of declining new orders and site starts in 2008-09, indications are that output in the construction industry will have declined by around 9% in value during 2009.
This will be followed by further decline in 2010 to a value of around £33bn, according to the latest report form AMA Research.
Returning confidence is currently expected in the middle part of 2010, but this will not begin to feed into increased construction output until 2011, followed by moderate growth to 2013 when South East construction output is expected to reach £36bn, the report states.
Given the concentration of population, industry, commerce and infrastructure within the South East, the region is a good indicator of the strength of the UK economy and indeed some view the South East as the 'engine' of the British economy.
Construction remains a key activity with the South East region, accounting for 31% of Great Britain construction output in 2008 with a value of £38bn. The South East region incorporates the Greater London area and the counties of Hampshire, Berkshire, Oxfordshire, Buckinghamshire, Surrey, West Sussex, East Sussex and Kent.