Time To Feel Good About Welsh Construction
Welsh Government and RICS have reported in the past few weeks that the instinctive optimism within construction professionals in Wales is being backed up by official data.
29th January 2014
In fact, the construction industry in Wales is outperforming the UK as a whole. The longer term trend for the Index of Construction for Wales shows an 8.7% increase when comparing 2013 with 2012 (whilst according to latest Office of National Statistics figures over the same time UK output fell by 1.3%) and the short term quarterly movements in the construction industry also show output increased in Wales by 2.8%.
Talking to ITV Cymru, Owain Llywelyn, Welsh spokesperson for the Royal Institute of Chartered Surveyors said the figures are 'pleasing' and shows there is an increased confidence in the construction industry across the UK, not just Wales.
Welsh Government economy minister Edwina Hart said: “The latest figures showing an increase in the number of construction jobs in Wales and that the construction sector in Wales is outperforming the UK as whole.”
The sense in the sector is that there is an overall surge in confidence and more work generally. The house building market is often seen as a barometer for this and there has definitely been a rise in confidence but the talk of more investment in Welsh infrastructure, news about contracts being negotiated for the Wylfa nuclear power station on Anglesey, as well as SMEs competing for work around the Welsh super prison all contribute to the feel good factor around Welsh construction.
What Welsh construction needs to focus on now is taking advantage of these opportunities by doing the work collaboratively and pursuing best practice.