bcd12_industry news 28/1/10 16:23 Page 10
Public Spending Limits Sharp Downturn in Construction
The latest ONS figures for work, it is more important than capital spending was: retail) fell 29 % over the same
construction output highlight the ever that government maintains its • Public housing where output period
critical importance of public capital investment programme in was 14 % higher in Q3 than in • Output on private housing was
spending to the industry. housing provision, transport, the previous quarter still 12 % lower than the
Although total construction output education and health facilities to • Work on schools, hospitals and previous quarter, although there
rose 2 % during the third quarter provide better infrastructure and the Olympics, which was 7 % are now signs of a slow
of 2009 compared to the previous ensure a skilled workforce for higher than in Q2 and 31 % recovery in this sector.
quarter, this was primarily due to economic recovery. higher than in Q3 of 2008
growth in public spending In addition, the recent • Work on the railway network Reflecting on the prospects
offsetting the continuing sharp independent study by LEK which was14% higher than a going forward, Francis said,
falls in private sector construction. Consulting highlights the benefits year ago, whilst construction “With continued falls in the new
Taking the first nine months of of investment in construction to output on roads was 19% orders figures across the private
2009 as a whole, construction the UK economy, with every £1 higher. sector any recovery in the
output is 12 % lower than the spent on construction generating construction industry over the next
same period in 2008. £2.84 in economic activity. In contrast, private sector 12 months depends critically on
Commenting on the figures, We hope that the Chancellor construction activity continued to the government sustaining its
Noble Francis, Economics Director recognises this and highlights the fall sharply: current spending plans, and this
of the Construction Products importance of capital investment • Output on industrial projects fell will be a key part of the
Association said, “These latest in construction in next week’s 35 % compared with the third discussions we have with all the
output figures illustrate that given Pre-budget Report.” quarter of last year political parties in the run up to
the dramatic fall in private sector The main growth in public • Commercial activity (offices and next year’s Election.”
Shared Ownership Scheme in
Graydon
Surrey Sells-Out in Three Hours
Helps to
Ease Credit
Log-Jam for
Timber
The timber industry will soon be
able to benefit from a new on-line
credit forum, which has been
launched by market specialists,
Graydon UK ltd
The on-line forum, which will also
include regular face to face
meetings, has the backing of the
Timber Trade Federation.
Designed to provide the most up to
A brand new affordable housing high quality affordable homes. Halliford Station and just over a
date information on current and
potential customers, the credit forum
scheme in a sought-after area of Charlton Village is in a fantastic mile from Shepperton Station,
allows members to report credit
Surrey sold out in just three hours. location close to Shepperton, yet both of which provide regular
concerns, instantly updating other
All 25 new shared ownership still within easy travelling distance services to London.
companies. The alerts will be
homes at A2Dominion’s Charlton to London so it’s no surprise There’s a range of amenities
supported by a dedicated team of
Village scheme, where prices they proved such a hit with available in nearby Shepperton,
investigating analysts.
started at just £66,000 for a 40 % house-hunters.” from local shops and restaurants to The new on-line forum follows
share, were snapped up by More than 70 people descended green open spaces, riverside walks pressure from the industry for a
first-time buyers. Denise Stewart, on the Charlton Village Open day. and the tranquil Shepperton
robust credit system following
A2Dominion’s Director of Sales & The homes sold were available Marina. There’s also plenty of
industry’s well-reported issues
Marketing (South), said, “Now is a through the Government’s part-buy primary and secondary schools,
with credit insurers over the past
good time for first timer buyers to part-rent scheme, which allows both state and independent, in the
two years.
be investing in a home due to buyers to purchase a share of a local area. About three miles away
John White, Chief Executive of the
economic signs showing growth. home they can afford, and pay a in Sunbury, there is a golf club,
Timber Trade Federation, said,
“The industry has a real and
“Research indicates that house subsidised rent on the part they do health club and leisure centre with
immediate need for a service of this
prices are increasing while the not own. Over time, they can swimming pool. A2Dominion has
nature. I’m delighted that the TTF
Bank of England has reported that increase their shares in the home been working in partnership with
has been able to help create what
October was the eleventh month in until they eventually own it outright. Spelthorne Borough Council on
will, no doubt, become a valuable
a row that the number of mortgage The homes at the £6.9 million the scheme, along with contractor tool for wood businesses up and
approvals rose. It is unusual to sell Charlton Village scheme are being Inspace Partnerships, architect down the country.”
out an entire development in just built on the site of a former Stanford Eatwell and employers’
three hours, but this clearly shows transport depot. Charlton Village is agent Harris and Porter.
just how strong the demand is for only about half a mile from Upper
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