Positive Contract Upturn for UK Residential Sector

FEBRUARY 2019 was a positive month for the residential sector, with £1.7 billion contracts awarded, an increase of 13.1% on January.

The latest edition of the Economic & Construction Market Review from industry analysts Barbour ABI highlights levels of construction contract values awarded across Great Britain. Residential unit numbers during February increased by 5.4% to 9,850. Coming in close second to residential, in terms of contracts awarded, was infrastructure with a 13.9% share and third, education, with a 12.3% share.

The report also revealed that the total value of construction contracts awarded in February 2019 was £5.4 billion, a 0.5% decrease on January, but 10.6% higher than February 2018.

The top project awarded during February was the £250 million redevelopment of Chelsea Barracks. The build saw Multiplex Construction Europe provide a total of 88 residential units in a single 5 storey structure.

The largest infrastructure contract was the £110 million redevelopment of the former Royal London Hospital site in Tower Hamlets to provide a new civic centre and council offices. The largest overall education contract was in Edinburgh and was the £90 million redevelopment and extension of the Darwin Building for the University of Edinburgh.

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