June was one of the worst months ever recorded for contracts awarded, says Glenigan, blaming the lack of heavyweight contracts. The value of main contracts was down 25 per cent in the quarter to June, compared with the first three months of this year.
Building tender prices rose by 1.5 per cent in the second quarter, says Davis Langdon & Everest. Prices have risen 3.8 per cent in the first six months of 1999, due to confidence in the medium-term outlook, it says.
British contractors working abroad won new orders worth £4.25 billion in 1998, says the detr, an increase of 5 per cent on the previous year. Nearly two-thirds of the contracts were in North America or Hong Kong.
Office space totalling 275,700m2 was taken up in London in the second quarter of 1999, says CB Hillier Parker. This is 3 per cent lower than the level recorded over the first quarter.