UK construction projects fall 33% amid global uncertainty
Original Article Summary
New UK construction projects fell by over a third in the three months to February, according to Glenigan data. Major works valued above £100 million have been particularly affected, with developers pausing schemes across multiple sectors amid global economic uncertainty. The post UK construction projects fall 33% amid global uncertainty appeared first on PropertyWire.
PropMatch Curated Analysis
UK construction projects dropped 33% in three months to February 2024, with major developments paused due to global economic uncertainty. Developers are increasingly seeking to reduce affordable housing requirements, impacting housing supply and investment opportunities.
Investor Relevance
Signals reduced new build supply which could support rental demand and property values for existing investors, while highlighting increased development risks and potential opportunities in distressed projects or reduced competition for sites
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