Beast from the East didn’t freeze construction industry growth, RICS survey shows
- Credit: Getty Images/iStockphoto
The Beast from the East didn't stifle growth in the East of England construction industry, a new study shows.
The Royal Institution of Chartered Surveyors (RICS) said construction workloads in the region are accelerating faster than the rest of the UK in almost all sectors.
Its latest construction and infrastructure market survey said a net balance of 37% more surveyors in the East reported an increase in their workload in the first three months of 2018.
And while 63% of respondents said bad weather conditions in February and March had been a limiting factor, it was not enough to slow the pace of growth.
Private housing reporting the strongest growth in workloads with 55% more contributors citing an increase rather than a decrease. The infrastructure sector was also steady, with a net balance of 35% more firms reporting a rise in activity.
You may also want to watch:
Respondents from the region expected rail, road and energy to post the most significant increases over the next year.
Jeffrey Matsu, RICS senior economist, said: 'While a short-lived snowstorm may have snarled logistical supply chains and site works at the end of February, it was not enough to negatively impact on workload order books. Indeed, several years of limited spare capacity have resulted in a backlog within the delivery pipeline which will take some time to unwind.'
- 1 Man jailed for seven years over coercive behaviour which left victim 'shattered'
- 2 Six new coronavirus deaths confirmed at Norfolk hospital
- 3 'Rare' Norfolk vicarage goes up for sale for £1.1m
- 4 Flood alerts in place across Norfolk
- 5 Seafront flats plan set for go ahead
- 6 Open all hours? Retailers say no thanks to 24/7 shopping
- 7 Cannabis factory discovered after police called to burglary
- 8 Fears loss of Arcadia group could have significant impact on Norfolk high streets
- 9 Man in 70s who died in crash identified after public help
- 10 Nine Norfolk schools closed or partly shut due to Covid-19 cases