Construction contract awards remain buoyant, residential struggles
Posted: Monday, March 24th, 2025
Barbour ABI’s February Snapshot reveals that residential fell back 45% to £1.4 billion after a bounce in January, Builders’ Merchants News reported. Approvals were down this month, falling 41% to £2.32 billion, the lowest level in over a year. Commercial and retail sectors rebounded strongly after a subdued January, with large office developments in London contributing to the industry reaching £1 billion in awards. Meanwhile, there has been a notable shift in healthcare this month, with planning approvals up 253%, with over half related to investment in Dorset County Hospital. Regionally, the West Midlands continue to experience poor development, with February down 50% from last month and the 2024 average. The East Midlands, on the other hand, has benefited from the numerous solar and battery projects approved this month, raising its approval value to £1.7 billion. While the planning approval value decreased by 19% in February to £8.5 billion, it remains above the 2024 average. Infrastructure was up 76% month-on-month, with the northwest leading the way, securing £1.3 billion in awards, including a hydrogen plant at Stanlow and a major project to improve traffic flow at Junction 18 of the M60. A £1.2 billion investment in the Port Talbot Steelworks Furnace fuels further growth as well.
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