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Sat July 20 2024

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Planning approvals up 32% on last year

17 Oct 23 Contract awards are down, starts are down but planning approvals are up, according to Glenigan.

According industry monitoring firm Glenigan, detailed planning approvals in the third quarter of the year were up 12% on the second quarter and 32% ahead of 2022 levels.

This sign of construction work coming down the line offers a ray of hope for green shoots of recovery, Glenigan suggest.

Meanwhile, in the here and now, starts on site remained weak throughout Q3, down 9% on Q2 and falling by almost 40% compared to last year.

Main contract awards in the third quarter were 27% down on Q2 and 12% lower than the same period in 2022.

Glenigan economic director Allan Willen said: “Starts on site continue to soften and, as economic and political disruption continues, we’ll likely see clients and contractors continue to adopt a cautious approach to start dates until the landscape looks a little less hostile.”

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