Office construction will rise by 50% over the next five years thanks to booming interest in London developments.
Construction growth across most of the rest of the UK is likely to decline over the same period however, according to a new report by the Construction Products Alliance.
It claims there will be huge drop-offs in developments: road construction will halve, there will be a 39% decrease in public housing schemes, and private housing schemes will drop below levels seen prior to the recession in 2007.
Despite several areas suffering, the report claims energy construction will rise three-fold by 2015. It also says London offices will help account for a 50% increase in office construction.
“The industry is quite volatile at the moment, with some sectors enjoying increased activity, albeit from a very low base. However, despite some positive signs, the overall prospects for the next few years are very poor,” explained Noble Francis from the Construction Products Association.
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