What will happen to the construction industry in 2019?

As we enter one of the most unpredictable years in recent history, it is understandable why many in the construction industry are slightly anxious about the year ahead. There’s been some blows over recent months, with the house market beginning to drop and some of the biggest construction firms in the country under threat, but there are still some positives for the industry expected this year, and if we set Brexit aside, is it really all that bad?

As we enter one of the most unpredictable years in recent history, it is understandable why many in the construction industry are slightly anxious about the year ahead. There’s been some blows over recent months, with the house market beginning to drop and some of the biggest construction firms in the country under threat, but there are still some positives for the industry expected this year, and if we set Brexit aside, is it really all that bad?

Here’s some of the positives we can expect to see this year:

Infrastructure

  • We should expect to see infrastructure outputs increase by 8.7% in 2019 according to the Construction Products Association – which is down from its previous forecast – but still a positive growth
  • The Government will also be putting Brexit aside to respond formally to the National Infrastructure Assessment, where we hope that the government will back the assessment and finally implement investment programmes within the industry

Contractors & Specialists

  • It’s good news for specialist contractors as moves to ban retention payments are continuing to look more likely, with the Aldous Bill due to be read in the House of Commons for a second time later this month

Innovation

  • The government has allocated £72m to set up a ‘Core Innovation Hub’ which is created for improvements in modern construction following the creating of the Transforming Construction Alliance which was formed at the end of 2018
  • Winners will also be announced for the Industrial Strategy Challenge Fund – awarding companies £12.5m for construction innovation

We expect 2019 to be an unstable year, but it is good to know that there are still some positives expected to happen regardless of Brexit and the political situation.

Mone Bros is one of the leading construction companies in the Yorkshire area, serving the whole country with plant hire equipment and recycling facilities. For more information on our services, please contact our Yorkshire team today on 0113 2523636.