Housing market to â€˜bump alongâ€™ in 2011
The housing market in the UK will be bolstered by developments in the south over the coming year, says Barratt Developments chief executive Mark Clare. Speaking to the Telegraph newspaper he said there will most likely be no â€˜dramatic movesâ€™ in 2011, and the market will move along but will still be held back by the economic downturn. Clare also predicts that the first quarter will prove the slowest, with any movements likely to occur from April onwards.
For those looking for construction jobs, several projects in the South and in London will present an opportunity from jobs in the planning and construction stages to post-completion facilities management jobs. Morgan Sindell are due to begin work on new halls of residence at the University of Reading, with the project set to create 894 study bedrooms, which upon completion will create openings in facilities management in particular. London is also an area Clare points to for continuing development:
â€œI think places like London will continue to be quite strong, and other areas of the country that have been resistant to price increases will continue to be resistant, because there isn’t that strength of economic activity.â€
Indeed developments in West London will signal movement in the housing market and a welcome influx of construction jobs, with Ealing council approving a major housing development. The new phase of London & Quadrantâ€™s (L&Q) regeneration of the South Acton estate will begin this year with a new energy centre and 167 homes due for completion in 2013. L&Q also has plans for a further 130 homes to be built on the same site, and with a planning application expected to be submitted later this year the project could see a total of 2,600 new homes on the site come completion. David Montague, chief executive of L&Q commented:
“We are absolutely delighted to be in a position to start this highly significant redevelopment, which is keenly anticipated by the residents.”
Further good news for the areaâ€™s construction professionals came in the form of news that Mansell is to design and build a new Â£2.1m childrenâ€™s centre in the borough. Whilst this particular development wonâ€™t affect the housing market as the South Acton project will, the construction industry in the South and in London is receiving a welcome boost at a time when work is declining on the whole.