New construction output figures: property consultants comment

Commenting on the new construction output figures published by the ONS this week Clive Docwra, managing director of construction consulting and design agency McBains, said: “Although there was a moderate increase in output in July, the longer-term trends show growth on a downward trajectory.

“For that reason, the industry will not be getting overly excited. The continuing Brexit soap opera, the events of which become more bizarre and unpredictable daily, mean that spending decisions will continue to be put on hold until investors are more confident of the road ahead.

“Meanwhile, the weak pound means the cost of imported materials is squeezing pockets.

“All the signs point to a protracted slowdown in activity over the coming months.”