CPA Construction Industry Forecast (Autumn 2022)

Date Published

7 November 2022

Document Type

Category

Author

TDUK
Summary

Construction output is forecast to rise by 2.0% in 2022 as activity currently continues at a high level but output is anticipated to fall by 3.9% in 2023 as a looming UK economic recession, falling real household incomes and rising interest rates, adversely affect demand for sectors such as private housing new build and repair, maintenance and improvements. This is occurring at a time when cost inflation is also hindering project viability in other areas of the industry such as commercial new towers and infrastructure.

Key Information
  • Construction output rises by 2.0% in 2022 but falls by 3.9% in 2023 before growth of 1.5% in 2024
  • Industrial output to rise by 20.4% in 2022 and a further 3.1% in 2023 before falling by 1.5% in 2024
  • Infrastructure output to increase 5.2% in 2022, 1.6% in 2023 and 2.6% in 2024
  • Private housing output rises by 3.0% in 2022 before a 9.0% fall in 2023 and recovering by 1.0% in 2024
  • Private housing repair, maintenance and improvement to fall by 4.0% in 2022 and 9.0% in 2023 before growth of 1.0% in 2024

Case studies

The building stands alongside York Way and is distinguished by a dramatic saw-toothed roofline inspired by the nearby West Handyside Canopy, a huge Victorian roof canopy which is now a thriving events space.

Cavendish Avenue is a tree-lined suburban enclave rich in architectural character and domestic diversity. The houses are large yet individual, creating an interestingly disjointed street frontage.