Figures reveal growth in residential sector in April
Figures from construction industry tracker Emap Glenigan have revealed a surprise increase in the value of contracts awarded in the residential sector
The latest 12-month rolling total for April 2009 shows an increase of £165 million, compared with the 12-month figure for the period ending March 2009.
According to Angela Morrison, a director of Quattro Design Architects, public housing continues to hold up
She said: ‘The feeling is that the Homes and Communities Agency wants housing associations to spend money this financial year, as it isn’t clear there will be so much after the election. Schemes we thought might be shelved are going ahead. It is not an avalanche of work, but it is steady.’
Jack Pringle, partner at Pringle Brandon and former president of the RIBA, agreed, saying he felt housing would be the first sector to bounce back from the recession.
He said: ‘There is a big under-supply, therefore unsatisfied demand. Once funds become available, we may see buy-to-let or even build-to-let projects.’
The Emap Glenigan figures also showed an increase of £62 million in the value of the leisure sector.