

TOPICAL
The UK construction industry took a very deep breath
following the Brexit referendum. There’s been a bounce
back, and some areas are doing better than others, but the
pervading attitude is still one of caution. Think differently
and be open to change is today’s guiding mantra.
Still Holding our Breath on Costs
By Jon Thorn,
Partner, Head
of London Cost
Consultancy, Project
Management &
Consultancy
I
nitial reaction to the Brexit referendum was one of
pause and consolidation. This inevitably slowed
construction output in the months following the vote.
Consultants saw multiple projects put on hold as
investors, developers and government departments
considered their positions.
By October the construction industry was enjoying
a surge in activity due, in large, to an increase in the
housebuilding and civil engineering sectors.
Unfortunately the commercial building sector continued
to stall as international investors remained wary.
As we move through 2017, the commercial office fit-out
sector is holding steady and there is an encouraging
number of enquires.
At Cushman & Wakefield, we have seen growth
in tender costs for much of the work we undertake.
This perhaps reflects the relatively short nature of the
programmes we become involved with, many complete
within 12 months, and the fact that the majority happen
in and around London, which is still a booming location.
PERSPECTIVES
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TOPICAL