Construction growing at fastest rate in 20 years | 24 April 2014
Britain’s construction industry is growing at its fastest rate in some two decades – so much that businesses are even having to turn work down, constructionenquirer.com reports.
According to new figures from the Royal Institute of Chartered Surveyors (RICS), Q1 2014 saw the fastest growth in workloads for the 20 years since records began.
Much of this growth can be attributed to strength in the private housing, commercial and industrial sectors – which make up around half of the UK total construction output. With these all posting strong growth figures, total national output reached unprecedented levels.
Whilst the results are undeniably positive, they’ve also shown it’s possible to have too much of a good thing, as construction firms are reportedly having to turn down jobs as they simply do not have the resources available. Not only that, a huge skills shortage could be on the horizon as most qualified workers already find themselves in a job. Just this year alone, the construction industry headcount is set to grow by three per cent – or 64,000 jobs.
Speaking to bbc.co.uk of the results, RICS Scotland director Sarah Speirs explained: “What we are seeing as the recovery takes shape is the impact of skills shortages in parts of the country, where companies failed to invest in attracting new talent or in the training of existing employees at the height of the economic downturn.
“Now that the upturn in workloads is broadening out across Scotland, the industry must ensure it has the capability to capitalise on these opportunities.”
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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