Clearly, it has not been ‘business as usual’ for any sector of the economy since the coronavirus pandemic reached the UK. However, with construction sites remaining open again during the latest lockdown and UK mortgage approvals at the highest level in 13 years, the industry has helped to bolster the economy during turbulent times.
For Advantage, investment in the company’s IT system has helped to facilitate remote working where needed, and the company has adhered to all covid guidance to continue to offer essential site visits and ensure that clients have the appropriate structural warranty to cover their projects.
During the summer, the business set new sales records and welcomed eight new starters to the team. The growth that Advantage has experienced comes at a time when the construction sector has remained active despite the challenges posed by the pandemic.
House building led the way
This week, Construction Enquirer reported that construction buyers had reported another month of growth in December 2020.
House building led the way as the bellwether IHS Markit/CIPS UK Construction Total Activity Index posted 54.6 in December compared to 54.7 in November.
Anything above 50 represents growth and the index rose beyond that crucial level for the seventh month in a row.
House building saw a sharp rise to hit 61.9 while commercial activity also expanded at 51.2 but the rate of growth eased to its lowest since the recovery began last June.
Civil engineering was the weakest-performing category at 48 with activity falling for the fourth time in the past five months.
New orders grew strongly
New orders grew strongly in December with firms highlighting improving client demand alongside a boost from new business wins on construction projects that had been deferred at the start of the pandemic.
Exactly half of the survey panel forecast a rise in business activity over the course of 2021, while only 10% anticipate a decline, which signalled the strongest optimism across the construction sector since April 2017.
Tim Moore, Economics Director at IHS Markit, which compiles the survey said:
“Construction companies are hopeful that higher demand will broaden out beyond residential projects in the next 12 months, led by infrastructure spending and a potential rebound in new commercial work from the depressed levels seen during the pandemic.
“Transport delays and a lack of stock among suppliers were the main difficulties reported by UK construction firms at the end of 2020, which contributed to the fastest rise in purchasing prices for nearly two years.”
The Advantage team is proud to work with our clients on developments throughout the UK, adhering to all social distancing guidelines to ensure that projects are covered by the appropriate structural warranty. To find out more about how we could help you with your project, call: 0845 900 3969 or email: firstname.lastname@example.org