London’s booming! August saw it account for 30% of the total value of UK construction contracts

The latest figures of The Barbour ABI construction and economic report show that the value of construction contracts in London totalled more than £1.6 billion in August, accounting for 30% of the overall contracts awarded UK-wide.  

The report, published monthly, provides an insight into the construction industry as well the UK economic climate for the past month. It gives you all the facts, figures and industry news to keep you up to date with what’s happening in the construction sector. 

The report is compiled by their Lead Economist Michael Dall, using Barbour's own project and construction data.

The detailed breakdown showed that London accounted for more than half (54%) of the total value of commercial and retail construction contracts awarded, as well as nearly a third (29%) of residential and 27.2% of education. 

Michael Dall said: "London's dominance across these key sectors is mainly due to big-ticket projects such as the £420 million commercial scheme at Fenchurch Street, The City North Development in Finsbury Park worth £130 million and a contract for the Imperial West site as part of Imperial College valued at £100 million. 

"UK-wide, construction contracts totalled more than £5.3 billion in August, a 16.6 per cent increase on the value recorded in August 2013, an indication that this year has seen a comparatively stronger summer for the construction industry.” 

You can download the full report here. 

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