CITB London forecast: Infrastructure boom to keep capital’s construction sector flying high
Posted on Wednesday, February 28th, 2018
Infrastructure work in the capital is set to grow by 54% in the next three years as a string of major projects ramps up, according to a new forecast out today from the Construction Industry Training Board (CITB).
The forecast shows that HS2, Thames Tideway Tunnel and the £1 billion Northern Line Extension will create an infrastructure boom in London, despite the uncertainty of Brexit and projects such as Crossrail coming to a close.
The latest Construction Skills Network report, the annual construction forecast from CITB with Experian, shows that private housing work is also set to grow strongly over the 2017-2021 period, averaging 5.1% each year.
Overall, the forecast reveals the capital’s construction output is expected to grow at an annual average of 2.4% over the next five years – well above the UK annual average of 1.7%, with 19,000 jobs created.
While employment will remain strong in traditional trades, with 2,150 civil engineers, 950 plant operatives and 550 electricians needed, white collar jobs will see the most growth with 3,440 senior executives, 2,370 project managers, and 1,760 architects required.
The private housing boom includes the £4 billion Brent Cross Cricklewood regeneration scheme which will produce 7,500 homes, and the £100 million Carlsberg Tetley and Thames Wharf scheme in Newham which will see 3,000 new homes built.
Other sectors are faring less well, however, with commercial building set to decline by 0.1% each year, as the pace of office building in the capital tails off slightly.
Janette Welton-Pai, CITB Partnerships Manager for London, said: “It is fantastic to see construction in London continuing to grow and provide employment opportunities. The significance of projects such as HS2 and Thames Tideway Tunnel to this growth proves exactly why it is vital these projects go ahead on time and to schedule.
“We will be working closely with contractors on these projects to ensure they have the skilled workforce they require. Anyone interested in being a part of new and exciting projects like these in London through a career in construction should visit Go Construct.
“And while this forecast factors in some of the effects of leaving the EU, we need to better understand the impact Brexit may have, particularly if access to EU workers reduces. That’s why we are carrying out an in-depth study this year on migration patterns in construction.”