Value of Residential Construction up by 92%

Value of Residential Construction up byValue of Residential Construction up by 92% PR Newswire CHESTER, England, December 19, 2013 • The total value of construction orders in the residential sector for November 2013 was a significant 92.2 per cent higher than November 2012 • Overall figures for construction activity grew by around 56.5 per cent in November compared to this time last year • These figures are "an indication of significant upturn" in construction activity in the UK, according to economists. The value of residential construction contracts awarded in the UK has grown by more than 90 per cent in the last 12 months, according to a report released today. Totalling £1.89bn, the value for projects in this sector for November is 2 per cent down on last month, but 92.2 per cent up on November 2012. The construction industry overall saw growth of 6.8 per cent from October to November 2013, with a 56.5 per cent increase on the value recorded in November 2012. These latest figures, taken from Barbour ABI's Economic and Construction Market Review, also highlight marked growth in the UK's infrastructure construction sector which grew by 16.2 per cent last month compared to October 2013. On the findings of the report, Michael Dall, lead economist at Barbour ABI, commented: "The figures show an indication of significant upturn in construction activity in the UK.