As Brexit affect the construction industry in the UK

Small construction companies are still acting nervous, which is reflected in the extremely cautious behavior when hiring new employees and even reducing the number of employees. The Federation of craftsmen of the building industry has published the results of their study for the 3rd quarter 2019. The study showed that from 19%to 15% of small and medium-sized construction companies do not expand their staff , and 23% the company has reduced the number of employees.The study also shows that the level of employment in the construction labor market is in negative values for the second consecutive quarter after a five-year period of growth.Meanwhile, 86% of construction companies expect a rise in building materials, 56% of companies expect wage growth, 56% of companies declared difficulties in recruiting carpenters and joiners, and 54% have problems with the masons.Builders are tired of prolonged political uncertainty . If this situation continues, we will see compression in the construction industry. Companies are losing skilled professionals that can adversely affect the quality of the buildings.Small construction companies also have to contend with increased prices on materials. Combined with inflation in the labor market, many builders remove very unstable profits, which may result in bankruptcy and closure of companies. The government needs to pay attention to the problems in the construction sector and to take steps to investment back in this market.®Angliadom 31.10.2019 Helen Entree.Our contacts:+79161561575 – about the purchase/sale of real estate in London