Glenigan’s analysis of sub-£100m contracts starting in the March to May 2025 period show a 10% year-on-year upturn and 25% growth on the previous three (winter) months.
Performance was buoyed by the residential construction market, where the total value of sub-£100m contract starts was 45% higher than the same period last year and 49% up on the preceding three months.
However, the non-residential sector fell by 18% compared to 2024 numbers.
Civil engineering starts were down 33% compared to last year but by only 2% on the previous three months.
Glenigan economic director Allan Wilen said: “The industry will welcome these results as, despite the downturn in major projects (construction projects valued at more than £100m)…the underlying market, which represents the majority of work across the sector, appears to be on the up. Perhaps a higher degree of ‘relatively’ good news business stories coming from Downing Street is giving many investors that boost they so desperately needed to get building. Certainly, if the very strong figures in the residential vertical are anything to go by, we’ll likely see the curve continue to rise into H2 2025.
“Of course, the much-anticipated spending review is revealed this month and should have an interesting effect on industry confidence.”
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