And moderate growth in education construction in the short term is to turn into stronger growth after 2013.
Education spending increased by more than 20% in the last six years and despite scrapping of the Building Schools for Future programme and current austerity measures, funding is set to rise in real terms until 2015, according to the report. Government expenditure on schools will rise by more than £2bn in the next four years.
An additional 350 new primary schools are required each year to meet the rapid growth in birth rates.
Close to £1bn will be spent on improving and maintaining UK schools and universities in 2012. Within the £280m academies refurbishment programme, the report identifies £75m of spending on projects each worth more than £100,000, underlining the substantial levels of investment ongoing in the education sector.
Increased tuition fees are also expected to stimulate refurbishment and new build activity in the higher education sector.
Further details on the MTW research report are here.
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