The value of all construction contract awards in November 2019 was £5.4 billion based on a three-month rolling average. This is an increase of 9.1% on October, and an increase of 20.2% when compared with November 2018.
Despite the increase in value of contract awards, the quantity has decreased by 1.0% in November to 855. This is also 3.8% lower than for November 2018. Focusing on regional analysis, the leading region in November was London which accounted for 17.6% of all contract awards. The South East was the second largest region this month with attributable share of 14.7% and was followed by the North West which accounted for 12.9% of all contract awards.
Sector analysis shows that the residential sector was the largest in terms of contract awards. In November with share of 38.1% which compares to just 28.0% share of awards in October. The commercial & retail sector was the second largest this month with attributable share of 18.2%. benefiting from some larger-scale office developments. Accounting for 15.9% of all construction contract awards this month the infrastructure sector and therefore managed to secure third place.
The largest value contract award for November was the £156.5 million White City Place, at Shepherds Bush in London. The project will involve the construction of three structures to provide a new office space.
We continue to see an upwards trend in contract awards value following on from lower levels in August and September of this year. Following the election results last week, it will be interesting to see how the party decisions impact activity levels moving into 2020.
In the Press…
PBC Today – Contract award values increase by 9.1% in November
The Planner – Contract value growth continues into November, suggest stats
