Construction to see 2013 growth, says RICS

A survey by the Royal Institute of Chartered Surveyors has indicated that 2013 could be a year of growth for the construction industry.

With the last few years having been amongst the worst faced by the sector, providers, specifiers, concrete flooring contractors, and suppliers will be hoping the RICS findings hold some water.

The report showed that chartered surveyors in the last quarter of 2012 expect workloads to increase in the next 12 months. The reasoning for the uplift is that the final three months of the year saw an increase.

Further study of the results shows that much of the growth already seen is as a result of increased spending in infrastructure. There has also been greater spending directed into commercial developments – typified by many landmark projects in the capital getting back into gear.

Talking about the results of the survey, RICS’ Simon Rubinsohn said:

“After a truly dreadful year, if one believes the official data, there are signs that 2013 will bring some better news for the construction sector.

“Most notably, the numerous measures that the government has introduced with a focus on infrastructure appear to be bearing some fruit.”

The Chief Economist for the professional body went on to say that financing constraints and other issues across the industry are still presenting a challenging environment, saying:

“Critically, competitive pressures in the sector remain intense which is continuing to erode profit margins.”

However, Rubinsohn also said that he expected the Funding for Lending Scheme to help address this.