RICS reports sharp fall in member confidence
The building sector’s collapse quickened towards the end of last year, according to a survey of chartered surveyors
56 per cent of those responding to the Royal Institution of Chartered Surveyors (RICS) survey reported a fall in workload over the last quarter of 2008. Only 9 per cent said they had more work.
Confidence in future workloads also fell slightly, reaching the lowest level since the survey began 10 years ago. The vast majority of respondents expected less work in the coming quarter.
Work in the private housing sector continued to fall at the same precipitous rate, while commercial and industrial workloads fell faster than they had before. Only the public sector bucked the trend, with respondents reporting a modest fall in public housing projects and a slight increase in non-residential work.
South-east England and Northern Ireland posted the slightest declines. The picture was grimmest in Wales.