Overview of Hewes Regional Construction Forecast, November 2007

The following reports on the Hewes’ November 2007 Construction Regional Forecasts of output for new work.  

Recent changes to the Hewes Regional Construction forecasts reflect problems emanating from the recent financial turmoil which is expected to hamper private sector investment and in particular investment in commercial and residential property.  Both have benefited from a boom in lending accompanied by lax risk assessment. The key question now is how the construction markets will be affected by higher borrowing costs and less accommodative debt markets.

 

Construction output New work (see fig.1) £m current prices	2005	2006	2007	2008	2009
Public Housing	2660	3436	4260	4705	5240
Private Housing	18386	19563	19840	18445	18155
Infrastructure	6501	6535	7020	7940	8600
Public Non-Housing	10046	9826	10120	11375	12365
Industrial	4292	4888	5090	4795	4755
Commercial	17370	20139	22850	24045	23750
Great Britain Total	59255	64387	69180	71305	72865