The number of projects put on hold each month is falling, suggesting the recession’s grip on the building sector is loosening
According to the latest data from industry tracker Glenigan, the number of mothballed UK projects worth less than £100 million fell to 676 in September, down from a peak of 756 in June.
Allan Wilén, Glenigan’s economic director, said: ‘Inevitably, the number of projects placed on hold has risen following the August holiday lull. Nevertheless, some 8 per cent fewer projects were shelved during September than during June or July and the value of work frozen was down by a fifth over the same period.’
John Walker, director of Manchester-based Walker Simpson, said that despite ‘issues with the banks [things were] slowly getting better.’
Meanwhile, Tim Hall of Lewis & Hickey admitted the practice was ‘getting a lot more enquiries all round’.
Private housing and office projects remain the largest proportion of work being put on hold, however the latest Glenigan Index has shown construction schemes starting on site remained steady in September, recording a drop of only four per cent year on year.
The news comes as the Office for National Statistics revealed the number of architects claiming unemployment benefit fell for the first time in 16 months (September 2009 figures).