Budget Jitters Impact Construction Forecasts
Construction output growth forecasts have been revised downward to 1.1% in 2025 and 2.8% in 2026, from previous predictions of 1.9% and 3.7%, respectively.
Firms across the construction supply chain report slowed activity since Spring, particularly in private housing, infrastructure roads, and commercial new build offices.
- Private housing output is forecast to rise by 2.0% in 2025 and 4.0% in 2026, down from previous forecasts of 4.0% and 7.0%.
- House builders cite demand and affordability as major challenges in areas with high house prices.
- In areas with more affordable house prices, site viability is a key issue due to additional costs imposed by the government.
Infrastructure output is expected to rise, but at a slower rate than previously forecast.
Industry leaders are bracing for bad news from Rachel Reeves.
Author's summary: Construction forecast growth slows.
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