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2011 could be difficult year for construction industry

2011 could be difficult year for construction industry
Next year could be difficult for developers, Construction News has said.

The downward trend in construction projects during the close of 2010, which may include the use of security fencing, looks set to continue into 2011, it has been stated.

According to The Royal Institution of Chartered Surveyors (Rics), government spending cuts and issues over access to finance affected sentiment during the third quarter (Q3) of this year.

While 59 per cent of chartered surveyors said that there had been no change in construction workloads during Q3 2010, those who did see a change said it was downwards rather than upwards.

Also, surveyor sentiment was negative across the industry, with the outlook for public housing and public works suffering in particular.

"Just as it was beginning to show tentative signs of recovery, the severe public sector cuts that were outlined in the Comprehensive Spending Review have obviously hit it hard yet again," said Greg Pitcher, deputy news editor at Construction News.

Asked about the outlook for 2011, Mr Pitcher said it looks as though it will "continue to be very difficult".

The Comprehensive Spending Review will mean the loss of work throughout the industry, and if the private sector is expected to pitch in and help, it has shown little sign of doing so yet, he added.

"It is going to be tough for a little while to come."ADNFCR-3337-ID-800254971-ADNFCR

Date: 24/11/2010 17:09:39

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