EDUCATION CONSTRUCTION CONTRACTS AT HIGHEST LEVEL IN TWO YEARS

EDUCATION CONSTRUCTION CONTRACTS AT HIGHEST LEVEL IN TWO YEARS

Figures released today (23 October) reveal that the value of education construction contracts awarded in September reached its highest level in two years.

Barbour ABI, which is a chosen provider of construction data to the Office for National Statistics (ONS) and the Government, has published its latest Economic & Construction Market Review revealing that the value of education construction contracts totalled more than £811 million in September, a 62.5 per cent increase on the same month last year and 8.5 per cent higher than August.

The report also shows that the sector accounted for 14 per cent of the total value of all construction contracts UK-wide, with nearly a quarter (22 per cent) of these awarded in the North West.

Michael Dall, lead economist at Barbour ABI, commented:  “Construction in the education sector is booming at the moment, boosted by a number of Priority School Building projects valued at £10 million individually.

“This plethora of Priority School Building means that state primary and secondary school projects dominate the sector this month, accounting for 60 per cent of the total value of projects awarded in September.

“Going forward, this level of investment looks set to continue as measures announced by the Government in this year’s Budget will inevitably impact on the value of contracts awarded in the sector over the coming years. This includes £106 million over five years to fund around 20 additional Centres for Doctoral Training, and an additional £85 million over the next two years to extend the Apprenticeship Grant for Employers Scheme.”

The Economic & Construction Market Review is a monthly report designed to give valuable insight into UK construction industry performance. It is compiled from Barbour ABI’s records of construction data for every UK planning application, and key indicators, such as the Office for National Statistics’ Construction New Orders data.

About Barbour ABI:

Barbour ABI is a leading provider of construction intelligence services. With a team of in-house research specialists and a dedicated lead economist, it provides commercially relevant insight and unique analysis of trends and developments within the building and construction industry.

Barbour ABI is the chosen provider of Construction New Orders data to the Office for National Statistics and the Government’s Construction and Infrastructure Pipeline, outlining future construction and infrastructure projects where public funding is agreed. Barbour ABI also provides data for independent organisations, such as the Construction Products Association.

Barbour ABI is part of global events-led marketing services and communications company, UBM, and is headquartered in Cheshire Oaks, Cheshire.

For more information, go to www.barbour-abi.com or follow us on Twitter @BarbourABI for all the latest construction data news.

About UBM: 
UBM helps businesses do business, bringing the world’s buyers and sellers together at events and online, as well as producing and distributing news and specialist content. Its 5,500 staff in more than 30 countries are organised into expert teams which serve commercial and professional communities, helping them to do business and their markets to work effectively and efficiently. 

For more information, go to www.ubm.com or follow us on Twitter at @UBM_plc for all the latest UBM corporate news.

 

     
   
   
 
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