Construction Downturn: Yorkshire and Humber
- Published: 08 September 2008 16:36
- Last Updated: 08 September 2008 16:36
Construction has had a very difficult year in Yorkshire and Humberside.
Glenigan estimates that the value of construction starts will fall by 19 per cent. There have been few positive stories in the region.
Private housing construction obviously suffered in the wake of the credit crunch. The office and industrial sectors have been even harder hit. Education construction starts are also lower this year following a particular strong 2007.
The outlook for the region remains negative. Planning approvals between January and July this year were down 34 per cent compared to 2007.
The decline is likely to affect most areas of private sector construction, with private housing the worst affected. Education prospects should improve after a poor 2008 but social housing construction starts may disappoint.
On a positive note, infrastructure approvals have been strong this year.
