Education project-starts tumbled 46% on the previous year while health work starting on-site dropped 26%. Most non-residential building sectors also saw sharp declines in project-starts during Q3 2022, including education and health which respectively weakened by 37% and 39% against the preceding quarter. Private housing starts were down 37% on Q2 of this year and 20% down on 2021. Social housing starts were down 13% against the preceding quarter and 36% on the year. The value of residential project-starts fell by a third against the preceding three months and was 24% on Q3 2021. The numbers are also seasonally adjusted.Ĭivil engineering project-starts proved a bright spot for the construction industry in Q3 this year, rising 1% against the preceding quarter as well as 11% against the same period last year. The analysis by Glenigan, a construction market data harvester, looks only at contracts with a value of less than £100m, to avoid the distorting effect of massive projects that have the effect of creating spikes (and hence crashes) in similar market studies. However, stronger headwinds may be ahead.
While data for the third quarter of 2022 is gloomy, September showed slight improvement on August. Menu Fast Index My Account FREE Newsletters The Construction Index
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