Budget Jitters Impact Construction Forecasts
Construction output growth is now forecast to be 1.1% in 2025 and 2.8% in 2026, down from previous predictions of 1.9% and 3.7% respectively.
- Private housing output is expected to rise by 2.0% in 2025 and 4.0% in 2026, revised down from 4.0% and 7.0%.
- Infrastructure output is expected to rise by 1%, with firms reporting slowed activity since Spring.
- Commercial new build offices have also seen a slowdown in activity.
Demand and affordability remain the biggest challenges in areas with higher house prices, while site viability is a key problem in more affordable areas due to additional government costs.
Author's summary: Construction forecasts plummet due to budget concerns.
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