Featured Region: Wales

 

The past five years have been volatile for Welsh construction activity, and a sharp 46% decline in project starts so far this year shows this trend is continuing. Three years of declining values of project starts came to an end in 2010, with a 33% increase compared to the year before. However, decline took hold again in the first half of 2011 and, despite a recovery in the second half of the year, the value of project starts dropped by 2%, leaving project starts 20% below 2007’s level.

Last year saw a turnaround in the industry’s fortunes in the region, Wales saw a 20% increase in the value of underlying starts compared with 2011. A number of private sectors were flooded with work last year; particular strength came from the office & commercial and hotel & leisure sectors.

 

The falls in project starts this year have come across the spectrum of public, private, infrastructure and housing sectors, providing a gloomy picture of future workloads. However output has so far remained strong and we anticipate a strong uplift in project starts during 2014.

 

Wales consists of the following Counties: Clwyd, Dyfed, Gwent, Gwynedd, Mid Glamorgan, Powys, South Glamorgan, West Glamorgan.