October 2, 2010
LJMU To Back National Renewable Energy Conference
The underlying value of private housing construction projects starting on site fell in the three months to July after six months of sustained growth according to the latest data from industry analysts Glenigan.
The upward trend seen earlier this year in private housing has also petered out with the value of start on sites down two per cent on a year ago as housebuilders and consumers reappraise market conditions post-election.
Overall these declines leave the Glenigan Residential Index down 20 per cent. “Whilst social housing starts are likely to remain under pressure over the coming months, a renewed recovery in private housing starts is anticipated at the end of the year as housebuilders capitalise on gradually improving market conditions” according to Allan Wilen, economics director, Glenigan.
“Private housing had previously been a source of optimism, as returning private sector confidence encouraged developers to invest in new work. However, this quarter’s dip in project starts highlights the fragility of the recovery. Poor household earnings growth and rising unemployment, combined with limited mortgage availability are expected to restrict the pace of recovery in new house sales and project starts during the remainder of 2010″ added Mr Wilen.
Retail project starts were down 23% in the three months to July compared to a year ago. This is expected to be a temporary blip in what has generally been a growth sector this year. The flow of office and industrial projects remains weak. Additionally, community and amenity, health and education have suffered amid election uncertainty and as departments review their spending programmes.
Overall the Glenigan Non-Residential Index for the three months to July was 22 per cent down on a year ago. Despite restrictive fiscal policy over the next few years, a more widespread strengthening in private sector activity is anticipated over the two year forecast period supported by renewed private sector confidence and investment.
The 2010 Green Power Forum will welcome delegates from both the public and private sector. Mr. McManus added: “The GPF 2010 is targeting professionals who are responsible for driving down carbon emissions within their organisations. GPF is ideal for business owners, financial directors, facilities managers and representatives from housing associations and local authorities. The conference is aimed at members of the construction industry, such as architects and designers who want to learn about the latest renewable technology which can be installed in their projects.”
Overall, the value of construction projects starting on site in the three months to July was 12% down on a year ago. Looking ahead Mr Abraham commented “The outcome of the comprehensive spending review will weigh heavily on public sector starts over the next two years. Despite the good flow of retail and hotel projects over the past few months, private non-residential activity has been a disappointment. Improved business confidence and lending conditions have been slow to lift industrial and office starts. Nevertheless, a number of stalled schemes are once again being taken forward and an increase in project starts is expected by the end of the year.
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