The value of work starting on site in the three months to September was 10% higher than a year ago, according to the latest Glenigan Index. On a seasonally adjusted basis, starts rose by 12% against the three months to June.
Commenting on this month’s figures, Allan Wilén, Glenigan’s Economics Director, said: “The upturn in the value of underlying projects starting on site during the third quarter is encouraging and follows a subdued first half to 2018. The latest Glenigan Index for September was 10% up on a year ago. The Index reveals a general rise in private residential and non-residential building projects starting on site during the last three months, most notably in private housing, offices, industrial and retail projects. The health sector has also been stronger.
“Housebuilders appear to be making up for activity lost to poor weather during the first half of the year. Private residential starts during the three months to September were 17% up on the same period a year ago. On a seasonally adjusted basis starts were 16% up on the three months to June. Social housing starts were 9% down on a year ago, but were 12% ahead of the second quarter on a seasonally adjusted basis.
“Overall non-residential projects were 11% higher than a year ago and 13% up against the second quarter on a seasonally adjusted basis. September saw a sharp rise in the value of underlying offices, retail and health projects starting on site. An overall increase in starts in these sectors during the three months to September, together with an increase in industrial starts more than offset weakness elsewhere.