Table of Contents

June 2022 – Construction industry performance – Offices

Venture-starts and predominant contract awards each fall towards a robust efficiency within the first quarter.

Underlying detailed planning approvals improved considerably on each the previous quarter and a yr in the past.

The worth of workplace work commencing on-site in the course of the second quarter of 2022 added as much as £1,092 million; a 63% decline towards the previous quarter to face 43% down on the earlier yr.

Underlying project-starts (lower than £100 million in worth) totalled £982 million, declining 23% towards the previous quarter on a seasonally adjusted (SA) foundation and 30% towards the earlier yr.

Main project-starts (£100 million or extra) carried out notably poorly, with the worth declining 90% towards the previous three-month interval and 79% towards the earlier yr to complete £110 million.

Including as much as £1,851 million, workplace predominant contract awards declined 18% in the course of the quarter and 16% towards the earlier yr.

Whereas main undertaking contract awards fell 17% towards the previous quarter, the worth remained 22% up on the earlier yr.

Underlying contract awards, totalling £951 million, declined 2% towards the previous quarter (SA) and 35% towards the earlier yr.

Workplace detailed planning approvals, at £1,560 million, skilled a strong interval with the worth having elevated 43% towards the previous quarter.

Regardless of this, the worth fell 26% in contrast with a yr in the past.

The decline towards the earlier yr was resulting from main undertaking approvals which, at £370 million, fell 65% in contrast with a yr in the past.

Encouragingly, the worth elevated 79% towards the previous quarter.

Underlying undertaking approvals carried out notably nicely, with approvals rising 64% (SA) towards the previous quarter and 12% towards a yr in the past.