London’s construction industry to remain strong

Vania Goncalves 15 Feb 2017 EUROPE BUSINESS

Infrastructure work in London is set to grow by 54% in the next three years, according to a new construction forecast.

The Construction Skills Network report, an annual construction forecast from the Construction Industry Training Board (CITB) and Experian, concluded that the HS2, Thames Tideway Tunnel and Northern Line Extension project will create an infrastructure boom in the capital, despite the Brexit uncertainty.

Private housing work is expected to grow on average by 5.1% a year between 2017 and 2021.  It will benefit from various projects, including the £4bn Brent Cross Cricklewood regeneration scheme, which will involve the construction of 7,500 homes, and the Thames Wharf scheme in Newham, which will see 3,000 new homes built, according to CITB.

Overall, London’s construction output is expected to grow at an annual average of 2.4% over the next five years — above the UK annual average of 1.7%.

The forecast also states that an additional 2,150 civil engineers, 950 plant operatives and 550 electricians will be needed during this period. White collar jobs will experience significant growth with an additional 3,440 senior executives, 2,370 project managers, and 1,760 architects required.

On the other hand, commercial building is set to decline by 0.1% each year, as the pace of office building is slowing down.

CITB partnerships manager for London Janette Welton-Pai said: “It is fantastic to see construction in London continuing to grow and provide employment opportunities. The significance of projects such as HS2 and Thames Tideway Tunnel to this growth proves exactly why it is vital these projects go ahead on time and to schedule.

“We will be working closely with contractors on these projects to ensure they have the skilled workforce they require. Anyone interested in being a part of new and exciting projects like these in London through a career in construction should visit Go Construct.

“And while this forecast factors in some of the effects of leaving the EU, we need to better understand the impact Brexit may have, particularly if access to EU workers reduces. That’s why we are carrying out an in-depth study this year on migration patterns in construction.”

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