The most recent Construction Employers Federation (CEF) survey of local construction companies conducted in July represents the views of around 200 businesses with combined turnover exceeding £1.5bn. The findings strongly suggest that the greatest single risk to jobs and the survival of local businesses is the slow pace of government’s return to business and the procurement of much needed construction work, exacerbated by a nervous commercial sector considering its options in retail, hospitality and office accommodation.
In addition to the alarmingly high number of jobs lost in the construction sector during the recession, perhaps the most visible aspect of the downturn was the significant drop in both property values and new builds …
There is now a critical need for new homes to be built – from the positive impact this would have on jobs to how new housing underpins both regeneration and economic growth.
With less than 50% of new housing need having been met consistently over the last decade, there is a very urgent need to act and act now – particularly in respect of private housing.
CEF has joined with ICE (Institute of Civil Engineers) to call on the NI Assembly to form an independent advisory body to identify strategic cross-sectoral priorities and to advise the NI Executive on investment decisions.
CEF welcome the announcement by the First Minister that the restrictions on the Property Market have been amended to allow a return to activity from Monday 15th June.