Commenting on the new construction output figures published by the ONS today which show a decrease in output, Michael Thirkettle, Chief Executive of leading interdisciplinary international construction and property consultancy McBains Cooper, said:
“There is unlikely to be any respite in the weak construction figures in coming months.”
“The uncertainty over Brexit, together with the softer growth forecasts from the Bank of England, mean decisions on strategic investment and major commercial projects will be delayed until at least after the referendum.”
“In London especially, there are worries that prices may have peaked in some quarters, and housebuilders are telling us that they are waiting to see the detail of the new Mayor’s housing policies before committing resources to new developments.”
