Budget Jitters Impact Construction Forecasts
Construction output is now forecast to grow by 1.1% in 2025 and 2.8% in 2026, down from previous predictions of 1.9% and 3.7% respectively.
- Private housing output is forecast 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, but at a slower rate due to decreased demand.
- Commercial new build offices have also seen a slowdown in activity.
House builders cite demand and affordability as major challenges, particularly in areas with high house prices.
Demand and affordability remain the biggest challenges in areas of the country where house prices are higher.
In more affordable areas, site viability is a key issue due to additional costs imposed by the government.
Author's summary: Construction forecasts plummet due to budget concerns.
More News
- Landmark New Report Shows Canadian Lobbyists Represent Major Polluters Alongside Environmental Groups
- Thunderstorms with damaging winds and penny-sized hail in Central West Florida Monday – wind gusts up to 60 mph
- NGS Streamlines Biomarker Testing in Solid Tumors | Oncology Nursing News
- Queer Issues are Human Issues - The McGill Daily
- MCU: Jeremy Allen White Responds to Popular X-Men Fan Casting
- SJHN Daily: Celebrini Named NHL First Star of the Week
- Turkey Buys RAF's Retired C-130Js, Opening a New Chapter for Its Airlift Fleet
- Newsom considering 2028 run, calls Trump an ‘invasive species’