Research by Thames Tap partner RLB suggests a mixed picture for the construction market.
RLB Construction Market Intelligence for Q4, 2024 reports the Thames Valley and South East markets reflect the same pressures from global economic issues that are being experienced nationally.
The report notes contractor and builder insolvencies continue to impact the regional market.
In addiction, organisations are dealing with uncertainty, contract risks, supply chain constraints, skills shortages, interest rates and cashflow or funding issues.
Michael Righton, partner at RLB Thames Valley (pictured), said: “Developers remain concerned about the stagnant funding market, which in some instances is hampering projects from progressing through the development cycle. A key issue continues to be the stop-start nature of project development, often hindered by planning policies or processes.
“However, it remains to be seen how much Deputy Prime Minister Angela Rayner’s recent rhetoric will address these challenges, with clarity expected in 2025.
“With that said, it is encouraging to see several major projects within both the private and public sectors that are continuing to come through the development pipeline. This progress provides some level of assurance to the future outlook and prosperity.”
The report can be seen at: https://www.rlb.com/europe/insight/construction-market-intelligence-uk-edition-q4-2024/
© Thames Tap (powered by ukpropertyforums.com).
Sign up to receive our weekly free journal, The Forum here.
