‘The construction industry stands ready to start creating the thousands of new homes the country needs, and building the hundreds of modern schools and colleges in which our children can be equipped with the skills they’ll need to succeed in a post-pandemic economy’ – Steeve Beechy, Wates public sector director
We are entering an exciting, productive, and affluent time for the construction industry. It’s continually surprising, given the circumstances, that the construction sector is experiencing what many are already calling a ‘boom’ which is seeing levels of productivity reach and surpass pre-pandemic levels.
In November, the value of all construction work put together reached an incredible £14.01 billion, only a hair’s breadth from last year’s peak of £14.05 billion in January 2020, according to the Office of National Statistics (ONS). Growth in the industry, led by the infrastructure sector, jumped by a massive 10% in October.
‘Growth has extended to a seven-month streak and total construction output has powered back past its pre-pandemic level for the first time.’ – Gareth Belsham, Director of Property Consultancy Naismiths.
Also in November, we saw the infrastructure sector earn a whopping £2 billion worth of work, the highest amount on record for the infrastructure market. Despite the UK economy shrinking by 2.6% overall in November, the construction industry entered its sixth consecutive month of growth since April, and this continued into December. If anything will get the country out of an economic slump, it’s the construction industry, and construction workers – and that could mean you too.
What’s most promising about these developments, is that the upward trend of growth is so consistent, so solid. December was a similarly positive month of growth for construction work, which is evidence of increasing long-term demand for construction workers. Predictions are being made that the construction industry could very well be a massive help in helping the country out of a dark economic hole.
In accordance with the government’s announcement of massive long-term financial investment into the construction industry, it’s looking likely that, whatever happens, the next five years will be a prosperous one for those working within trade. Prepare for the construction industry to ‘level-up’, as the government plans to spend the following:
£27.5 billion on English roads until 2025
£7.1 billion on a National Home Building Fund
£23 billion extra funding for HS2 until 2025
£4 billion for a ‘levelling-up’ fund, allowing areas to bid for up to £20 billion to directly fund local projects.
This adds up to an eye-watering £61.6 billion pounds of investment, at the very least. If that’s not a sign of how great a priority this industry is for our future development as a country, then I don’t know what is.
The construction industry has been able to perform incredibly well in relation to other sectors in the UK, thanks to an abundance of work, and sanctions from the government which allowed construction work to continue under lockdown.
It has provided work for thousands, crucially important services for tens of thousands, and a solid future of employment and stability for even more. It is yours to join, to contribute to, to be a part of – all you have to do is become qualified and start looking in the right places. We can give you all of this – just give us a call.
Learn your trade. Get qualified. Make it happen.