Construction Update: 24th April 2020
Keeping you up to date
I am the Chief Economist at Barbour ABI and AMA Research, providing analysis and economic insight for the construction industry. This is the sixth of our weekly briefings on the developments of Coronavirus and the impact on our industry.
Tom Hall, Chief Economist
COVID-19 Construction Update #8
We want to ensure that our clients have the most up to date information available to them and as such this is the sixth in a weekly series of briefings on the impacts of the Coronavirus pandemic on the construction industry. As part of your subscription, each week we will be providing:
- • A view of what's happening on the ground and what we can see from future planning
- • Help and support you may find useful during this difficult time
As you can imagine the situation is changing on a daily basis. We will do our best to support you with timely and accurate information to allow you to effectively manage your business at this difficult and unprecedented time.
To access the full report please click here
Construction Industry & Project Activity
This week has seen a further significant increase in open projects and a comparable decrease in delayed projects. Total open projects number 2,037 with a value of £75bn (£52bn excluding HInkley Point). This is an increase of 493 projects and an increase of £13.4bn.
Out of the open projects, restarted projects number 961 and have a value of £30.5bn.
Further increases in open and restarted sites are expected over the coming weeks as housebuilders and major contractors make new announcements.
The availability of construction materials appears to be a decreasing, albeit ongoing, concern. We continue to receive several reports that materials and products are scarce - this week we were notified of new shortages in carpet, ceiling tiles and render.
Impact by sector and region
Overall, the Residential sector has by far the most projects returning to site (at a value of £19bn), followed by the Infrastructure sector (£6.2bn)
The largest amount of confirmed open projects by number are in the Medical sector.
Confirmed projects remaining open have increased the most in London (£5.2bn), followed by the South East (£1.7bn), North West (£1.6bn), East of England (£1.2bn), and East Midlands (£1.0bn).
Our Chief Economist, Tom Hall, has recorded another video update with a summary of the findings within this week's report. Watch it here