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Commercial property construction drop "disappointing
The construction of UK commercial properties has fallen, but this trend may have been expected.
According to Richard Diment, director general at the Federation of Master Builders, a drop in activity in the construction industry is "disappointing, but probably not overly surprising".
Savills recently reported a 2.8% fall in total commercial development activity in June.
This was after the previous two months saw growth in business property construction and development activity.
Mr Diment stated political uncertainty that began in the run-up to the general election may linger until clear plans are put in place.
Even the World Cup could have been responsible for certain distractions and less demand, he added.
"In many parts of the country, the recovery is still fragile," Mr Diment warned.
And the construction industry is certainly going to be affected in some way over the next few years, with less expenditure expected to have an impact, he predicted.
Posted by Suzannah Taylor
According to Richard Diment, director general at the Federation of Master Builders, a drop in activity in the construction industry is "disappointing, but probably not overly surprising".
Savills recently reported a 2.8% fall in total commercial development activity in June.
This was after the previous two months saw growth in business property construction and development activity.
Mr Diment stated political uncertainty that began in the run-up to the general election may linger until clear plans are put in place.
Even the World Cup could have been responsible for certain distractions and less demand, he added.
"In many parts of the country, the recovery is still fragile," Mr Diment warned.
And the construction industry is certainly going to be affected in some way over the next few years, with less expenditure expected to have an impact, he predicted.
Posted by Suzannah Taylor
Wed, 14th Jul 2010