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Contract value growth continues into November, suggest stats

Words: Laura Edgar
Planning statistics / iStock-157295672

In November, the value of construction contracts awarded was £5.4 billion, an increase of 9.1 per cent compared with October and an increase of 20.2 per cent compared with a year earlier.

The figures, published by industry analyst Barbour ABI, are based on a three-month rolling average.

While the value increased, the number of contracts decreased by 1 per cent to 855 in November – 3.8 per cent lower than the same month in 2018.

London topped the regions for construction contracts awarded, accounting for 17.6 per cent. The South East came in second with a 14.7 per cent share and the North West was third, with a 12.9 per cent share.

The residential sector was awarded 28 per cent of the contracts, up from 28 per cent in October.

The commercial and retail sector was the second largest at 18.2 per cent, and the infrastructure sector secured 15.9 per cent of all construction contract awards.

The most valuable contract award was the £156.5 million White City Place, at Shepherd’s Bush in West London.

The latest edition of the Economic & Construction Market Review can be found on the Barbour ABI website.

Image credit | iStock