Train4TradeSkills News: Are the Fortunes of the Construction Industry set to change?
It’s been a depressing few years for the construction industry as it, like virtually every other industry, has been hit hard by the recession, spending cuts and the financial crisis in the Eurozone, with countries like Greece on the verge of going bust.
But the construction industry’s fortunes could be set to change, as initial figures and a collection of new funding and schemes mean the industry could be set for happier times as we approach the end of 2011. Train4TradeSkills News investigates:
Three of Britain’s biggest housebuilders reported increased sales and a busy Autumn compared to the same time last year.
Persimmon, Taylor Wimpey and Bovis showed positive signs that the housing market could be on the way up, with their latest round of figures for Autumn.
Persimmon reported an increase in sales of 19% compared to last year, Taylor Wimpey’s order book is up to 6,265 homes in the last month (up from 5,496 last year) and Bovis Homes also reported increases.
And it’s not just the private housebuilders’ that are benefitting, as this week the government are planning to allow local authorities in London to increase council house building.
The Governmnet are reforming the Housing Revenue Accounts, which could drastically increase house building in the capital for the first time in decades.
London Councils produced a report on this and their executive member for housing, Mayor Sir Steve Bullock said in a statement:
“This is the biggest change in council housing since Right to Buy. For the first time in recent history councils will be able to keep all of the rent they collect and invest it locally to improve housing for their tenants.”
“The reform of the Housing Revenue Account is a major opportunity for councils to maintain and expand their housing stock far more effectively for the people they accommodate.”
More homes can only be good news for the construction industry and will create jobs for new contractors, whether it be builders, plumbers or electricians.
And the good news is that construction graduate prospects are looking up. New research from the Higher Education Careers Services Unit (HECSU) indicate that the job market has slightly improved, with 14.5% more building graduates getting jobs compared to 2009 figures.
The HECSU’s What Do Graduates Do report found Electrical graduate jobs also increased, with employment growing by 5.9% compared to two years ago.
What do you think – is the construction industry set to turn a corner just in time for 2012? Let us know your thoughts and comment below:
Posted on November 8, 2011, in construction jobs, construction news, Electrical News, electrician jobs, plumbing jobs, t4ts, train4tradeskills and tagged Bovis Homes Group, construction, construction graduates, construction industry, construction jobs, electrician, electrician jobs, Eurozone, HECSU, Persimmon plc, Plumber, plumbing jobs, Steve Bullock, Taylor Wimpey. Bookmark the permalink. Leave a Comment.