Glenigan has revealed key recommendations for construction sector suppliers in their latest industry forecast. The company, an expert in market analysis, has predicted that there will be “strengthening in private housing, public non-residential and civil engineering work” will begin in 2020.
We break down some of the latest numbers and look at some of the commercial opportunities that lie ahead.
Value of Underlying Project Starts by Sector 2019/2020*
|£m||2019 (forecast)||2020 (forecast)|
|Community & Amenity||1,191||1,182|
|Hotel & Leisure||3,802||3,881|
* source: Glenigan – Construction Industry Forecast
Private Housing is by far one of the strongest areas of investment in 2019 and this is set to grow even more going into 2020.
Glenigan claims that “the extension of Help to Buy to 2023 should lift housebuilders’ confidence to open up new sites despite subdued activity in the wider housing market. We predict a return to stronger growth from 2020.”
Although there is a noticeable difference between private and social housing, the latter area is also forecasted to grow 5% this year and a further 1% in 2020 as there are a number of planned projects in London. In addition, student accommodation remains an important growth area.
This is great news for suppliers across multiple sectors as construction and refurbishment projects require a variety of goods, works, and services at every stage from actual building work to finishing and fitting out.
Both private and social housing projects offer commercial opportunities to suppliers who specialise in plumbing, painting and decorating, landscaping, waste disposal, furnishing etc.
Find commercial opportunities
The secret to success with commercial opportunities is being proactive. If early engagement is achieved at the early stages of a project, it will improve your chances of winning work with the private sector.
The best way to find commercial opportunities like those mentioned above is by using a business intelligence tool. Tracker’s Commercial Tenders tool gives users access to applications and decisions within 24 hours of publication as well as named contacts for key decision makers, influencers and bidders.
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