The construction industry in the UK is on the rise

The volume of construction in the UK has increased significantly in the last quarter of 2014, but the shortage of workers in the construction industry reached a record level.

A Recent report by the Royal Institute of chartered surveyors (RICS) made an analysis of the construction industry in the UK in 2014.

The growth of construction volumes in the UK continued throughout 2014, showing steady growth in all 4 quarters in all sectors of construction – residential, commercial and industrial.

Meanwhile, in the forecast (RICS) noted that the shortage of building materials, shortage of manpower and lack of funding could become a serious obstacle to the development of the construction industry in the UK in 2015.

But, despite the above factors, as well as despite the uncertainty in the housing market in the UK, which is present in connection to the upcoming may 2015 elections, the market of construction industry in the UK will boom in 2015 , according to forecasts, the sector expects growth to 3.4% and increase employment by at least 3%.

All UK regions have demonstrated over the past 12 months the growth of activity in construction of residential and employment growth in the construction industry. Lags behind other regions, perhaps only Northern Ireland.

Political pressure in the run-up to elections will slow down these processes in the spring of 2015, but will not stop the long-term growth of residential property market in the UK, which will attract new investments . All of this will take place against the background of improving productivity and promoting new initiatives that eventually will move the entire economy forward in the next decade.

® Helen Entree. 10.01.2015 G.

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