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INDUSTRY NEWS 5


Construction contract awards up 11 pc year on year


largest share of contract awards in July was held by the residential sector, at 39.9 per cent. Commercial and retail was the second largest sector in this month, with 16.0 per cent of contract awards, and was followed by the industrial sector, with a share of 13.6 per cent. London had the highest total of contract


awards in July, and was also the location for the 3 largest contract awards. The largest contract award for the month was in Southwark – the Stoney Street Commercial and Office development, which is part of the Borough Yards redevelopment, and is valued at £300m. Commenting on the figures, Tom Hall, chief economist at Barbour ABI, said: “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, with a 13.8 per cent increase on the comparable quarter ending July 2018. Over the next three months, we will be rolling steadily towards the Brexit deadline which may impact figures as uncertainty once again sets in.”


July sees dip in new home registrations


Yearly comparisons indicate that contract awards values in July 2019 were 11.0 per cent higher than July 2018, although the value of all construction contract awards in July 2019 was £5.1bn based on a three-month rolling average – which is a slight decrease of 1.8 per cent on June. As reported in the latest edition of the Economic & Construction Market Review, from industry analysts Barbour ABI, in the three-month period ending July 2019, total construction contract awards were valued at £15.3bn, which is an increase of 14 per cent on the previous quarter, and 13.8 per cent higher than for the compa- rable quarter ending July 2018. The number of contract awards in July was reportedly 1,011, which is an increase of 38.5 per cent on June, and is also 3.7 per cent higher than July 2018. Regional analysis shows that London was the leading region for contract awards in June with a 32.1 per cent value share. Analysis by sector showed that the


The number of new homes registered to be built in the UK during July was 9 per cent lower than a year ago, according to the latest NHBC registration figures. 14,262 new homes were registered in July 2019, compared to 15,719 a year ago, with 10,398 new homes registered for the private sector (11,877 in 2018) and 3,864 in the affordable and rental sector (3,842 in 2018). Although down on last July, this year’s


total for the month is reportedly still above the average seen over recent years. For the rolling quarter, between May and July, 44, 163 new homes (30,584 private sector; 13,579 affordable and rental sector) were registered compared to 43,199 in 2018 (30,841 private sector; 12,358 affordable and rental sector) – an increase of 2 per cent.


The upturn in London continues with 6,513 registrations over the last three months: 21 per cent more than what was registered a year ago. The East of England (+26 per cent) and the West Midlands (+21 per cent) also enjoyed buoyant quarters.


Commenting on the new figures, NHBC chief executive Steve Wood said:


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“Although new home registrations for July are down compared to 12 months ago, we are still seeing signs of growth coming through with the rolling quarter. “Despite the uncertainties and concerns around Brexit, the industry remains resilient and you can see that in these figures.”


£600m infrastructure boost announced


£600m of new Government money is to be released to support the building of 50,000 new homes, according to the Chancellor, Sajid Javid. The funding is set to be made available through the Housing Infrastructure Fund (HIF), intended to help deliver five new projects in London, Central Bedfordshire and Essex.


The projects identified are the ‘Beaulieu Station and North-East bypass’ bid from Essex County Council (£218 m), the ‘Meridian Water’ bid from Enfield (£156m), the ‘Tendring Colchester Borders Garden Community’ bid from Essex County Council (£99.9m), the ‘Transformational Growth in Biggleswade’ bid from Central Bedfordshire (£69.6 m), and the ‘East London Line – Growth Capacity’ bid from the GLA (£80.8m). Javid commented on the announce- ment: “I want to see more homes built in the places people want to live, so more people realise the dream of homeowner- ship – but we need the roads, rail links, and schools to support the families living in those homes, which is why I set up a fund to put in place the infrastructure to unlock new homes in these areas.”


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