TENDER UP
Tender prices are expected to rise by 20 per cent in the next five years, according to the Building Cost Information Service. Chief economist David Crosthwaite said:
“Contractors remain risk-averse and selective about the projects they bid on, but there has been more positivity around the project pipeline… Insolvencies in the supply chain represent an ongoing source of concern for the sector, in terms of both capacity and impact on cashflow.”
UNDER SCRUTINY
Construction is among the sectors most investigated for potential breaches of competition law, according to the Competition and Markets Authority (CMA).
UPS AND DOWNS
From 2022 to 2023, contract awards increased by the most in Scotland and fell most sharply in Wales, according to Barbour ABI and the Construction Products Association.
MATERIAL PROBLEM
Nearly half of UK construction firms said the high cost of materials was one of their biggest challenges, in a survey by insurance broker Gallagher.
3.4km
The length of the Colne Valley viaduct, Britain’s longest and newest rail bridge, on which the Align joint venture installed the final deck segment in September.
131
The number of UK green infrastructure projects that won state subsidy contracts in September, including Europe’s largest windfarm Hornsea 3.
450,000
The number of houses that need to be delivered in 2028/29 for the government to reach its 1.5 million homes target, according to the Housing Forum.
55%
The proportion of UK construction firms that believe AI is having a positive impact on innovation, in a survey
by consultancy Ayming.
SHUTTING DOWN
More than half of firms building railways have closed between 2019 and 2023, according to analysis of Companies House records by AB Drylining.
