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Construction workloads show signs of recovery
06/11/09
Edited by Andy Jowett.The number of surveyors reporting a drop in workloads for builders of private residential property tumbled by 23 per cent during the third quarter of the year, according to a new report.
A survey published today (November 6th) by the Royal Institution of Chartered Surveyors (Rics) shows that in the final quarter of last year, 66 per cent of surveyors were reporting a drop in construction workloads in the private housing sector.
This fell to 49 per cent in the first quarter of 2009, 28 per cent in the second quarter and just five per cent between July and September.
Surveyors are also increasingly positive in their outlook for the next 12 months, with nine per cent expecting builders' output to rise. This is the first positive reading since the first three months of 2008.
Furthermore, while employment in the construction sector is expected to fall "a little further", Rics said the balance of surveyors predicting a further drop in the workforce has narrowed from 24 per cent in the second quarter to three per cent in Q3.
Earlier this week, the Chartered Institute of Purchasing & Supply and Markit said construction industry activity had declined for the 20th consecutive month in October.
