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We are currently building an extension. Out here in Gloucestershire wages are similar to London and sometimes higher. The consensus amongst local tradesmen is that fewer new builds are happening but more people are choosing to do extensions rather than move house. So the static house market is improving one area but depleting another.
But this is opinion and conjecture.
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The RICS sentiment surveys from 2018 seem to agree:
Obviously nothing's actually happened yet, so all this means is that political uncertainty hasn't yet derailed construction work.
There's also a mention in this press release of "£1 billion in additional HRA borrowing" creating work in public sector housing. No idea where that came from, I don't remember hearing about it.
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There’s a shortage of labour so wages have gone up in the sector, as has the cost of materials. Just ask Joe Lewis.
A client of ours valued a building in London for reinstatement purposes back in September 2013, the value was £19.6m, in October 2018 the revaluation put it at £26.6m.
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dancing james
useless
marcomarcos
@yoshy
I know someone who's absolutely convinced that now wages in construction are significantly better than they were before the vote, and people who couldn't find a job now can. Is this true? Paging clever people who read about this.