New figures from construction market intelligence provider The Buildersโ Conference show that the UK construction industry secured more than ยฃ83 billion in new contract awards in the midst of the COVID-19 pandemic and the ensuing national lockdown.
It is precisely 12 months since UK Prime Minister Boris Johnson took the unprecedented step of plunging the UK into lockdown to control the spread of the Coronavirus and thereby safeguard the National Health Service (NHS).
At the time, there were justifiable concerns about what this would mean for the traditionally labour intensive construction sector. But, having been granted key worker status, the sector rose to the challenge to help lead the national economy towards recovery.
According to new figures from market intelligence provider The Buildersโ Conference, the UK construction sector secured well over 6,000 new projects since the first lockdown began. Those contracts have a remarkable combined value of more than ยฃ83 billion.
โยฃ83 billion in new construction work in just 12 months breaks all previous records on the BCLive league table of verified and real-time construction contract award data,โ says Buildersโ Conference CEO Neil Edwards.
โIt would be an incredible achievement at any time. But to have accomplished that in the midst of a global pandemic and against the backdrop of Brexit and wider economic concerns is just astonishing.โ
Although the figures for the past 12 months were buoyed by the award of more HS2-related work, it is the housing sector that has continued to lead.
House building accounted for almost 2,500 new contract awards with a combined value of just under ยฃ32 billion.
Railways contributed 42 new contract awards worth an impressive ยฃ11.97 billion, while roads accounted for a further ยฃ7.1 billion.
Offices (ยฃ5.0 billion), education (ยฃ4.7 billion) and entertainment (ยฃ3.1 billion) also made a significant contribution to the 365 day figures.
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