Construction is one of these markets that will survive no matter the economic or political situation. It will rise and fall. However, it will not succumb like many industries may do. With this in mind, the year of 2018 has already been tumultuous for the industry. We have looked at some of the main trends in construction and gathered them together for a solid comparison.
The market is seeing highs and lows. Nevertheless, it’s important to keep an eye on it and see try to estimate what will happen in the near and distant future. Read on and find out what has affected construction so far this year.
The Negative Construction Trends
The industry has been dealt many blows by everything from weather to the economy. See how the construction market was affected:
Beast From The East
The dangerously awful weather of late February led to much of the UK grinding to a halt. This did not bode well for any industry, however, it particularly affected construction working. The below freezing temperatures affected not only future work but did damage to the work which had already been done. This resulted in a long game of catch-up once the snow had finally cleared.
Not Enough Commercial And Civil Demand
This year has also seen a drop in demand for new commercial and civil projects. Governments are not willing to invest. Stores are closing branches rather than building new outlets. This has meant a drop in the number of big contracts for construction companies.
Purchasing Costs On The Rise
Inflation has also meant that purchasing costs within the construction industry are very much on the rise. The price of fuel, petrol, plastic and steel have all risen. This has affected the overheads of many construction companies and is limiting their possible profit margins.
The Positive Construction Trends
However, there have also been positive points this year. Find out where construction has been thriving:
Weather in May-June
The gorgeous weather throughout the month of May and into June showed a great influx in the amount of construction work being undertaken. This is great for the industry as they really needed this great boost. Many projects are being completed at this time.
House Building Going Strong
The construction market is still seeing a very strong number of housing contracts. This part of the market has not been affected and continues to be a great source of income for many construction companies.
Many Openings For Skilled Workers
There are also many opening for skilled workers. If you would love to enter the world of construction the best thing to do is find a reputable course or apprenticeship and see if you can get a foot in the door. Many companies would love to take you on provided you are skilled and dedicated.