Rapid Growth has been reported in the construction industry. The sector has seen fast growth from the beginning of this year, this fastest growth in six and a half years actually. An increase in work and jobs gives huge hope for the future of the construction industry, which is now quite literally booming! This marks 12 months of growth, and it’s showing no signs of stopping. The growth is supported by decreasing unemployment rates as well as low interest rates.
The main area of growth has been in residential houses. The recent government initiatives such as Help To Buy, which offers equity loans to first time buyers and home movers on new build homes in England, has supported many people in affording their own home. Britain is now finally recovering from the recession, which began in 2008, and we can start thinking about the future again. And the future is bright.
Although the main area of growth is residential new builds, the increase in work for commercial buildings and civil engineering has also sustained the ongoing development. It seems everything is on the up for the construction sector.
More Construction News
A construction firm is expanding into new offices in Tyneside after recording incredible growth over the last year. The firm, TW Construction ran by Tony Whelan, reported around £500,000 in annual revenue for its first two financial years but for 2014 they are expecting a turnover of around the £5 million. This marks a big change for Whelan, after the firm he ran called Whelan Construction, founded by his father in 1972, fell into administration during the recession. Whelan then moved on to form TW Construction in 2011, which has gone from strength to strength in the increasingly pleasing economic climate.
However, all this good news for the construction industry has raised further problems. It has been reported that six in ten building contractors have found it difficult to find skilled workers. There is an increasing need for construction workers with the proper training to do the job. We offer such courses here at Training For The Future. The expansion in the construction industry means official qualifications will need to be gained if you want a piece of this rapidly expanding market. Check out our list of courses and see if they may help you or your employees further their career and their future.