Commenting on the latest construction figures published by the ONS today which show a 1.5% increase in output on the previous three months, Michael Thirkettle, Chief Executive of leading interdisciplinary international construction and property consultancy McBains Cooper, said:
“Though these figures show growth in the sector, we can see dark clouds on the horizon.”
“Investors are telling us that they are being adversely affected by the risk of Brexit, increases in stamp duty, in the falls in the oil price and the value of Asian currencies.”
“We expect the falls in property prices in London’s most expensive areas to feed through to reduce the number of new developments being built in the capital.”