Is London set for a construction boom?

London could be about to experience a surge in construction activity as £21 billion worth of projects arrive in the capital by 2020.

New research by built asset consultants EC Harris found that there will be a big demand and a surge of residential development in central London over the next 9 years, as £21 billion worth of developments have currently started or are in the planning stages between now and 2020.

EC Harris found that work is set to get underway on 9,000 new units in London by 2020. 4,000 of the units, which will be worth a total of £8 billion, are to be built in 2014-15, the same year that the UK construction industry is set to experience a huge growth to lift itself out of the recession.

The majority of these new units are expected to be luxury housing, which will command a big price in London. Because of this, numerous house builders, office and retail developers are set to move into the prime residential area to capitalise on the increased demand and get involved with the work.

It’s not just luxury properties where the money is. Office building in London is expected to rise considerably in London, with a 50% rise expected over the next five years. This will see a three-fold increase in new offices built in the city by 2015, according to a new survey by the Construction Products Association.

 

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Posted on July 5, 2011, in construction jobs, construction news, electrician jobs, plumbing jobs, t4ts, train4tradeskills and tagged , , , , , , , , , , , . Bookmark the permalink. 1 Comment.

  1. To get a real estate property London is considered to be one of the best cities. The majority of these new construction units are expected to be luxury housing, which will command a big price in London. All the information you have shared is really appreciable. Thanks a ton.

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