Growth Predictions for the UK Construction Industry in 2024
Our friends at Glenigan report the UK construction industry is poised for significant growth in 2024, particularly in the office and education sectors. The demand for Grade A office space and the revival of the office market are key factors driving growth in the office sector. Similarly, the boom in student accommodation and substantial investments in educational infrastructure are major contributors to the anticipated growth in the education sector. These trends highlight promising opportunities for contractors and other professionals in the construction industry.
Glenigan’s construction market research showed that contracts worth a total of £2,125 million were awarded for office projects in the three months to April 2024. This total is 61% up on the previous three months and 40% ahead of the same period in 2023.
Sector Growth Predictions
| Sector | Growth Predictions | Key Points | Source |
| Office | Strong Growth | Demand for Grade A office space is driving opportunities for contractors, with significant investment in new and refurbished office spaces. The office market revival is characterised by an increase in contract awards and ongoing construction projects. This is expected to continue throughout 2024, supporting robust sector growth. | Glenigan - Strong Demand for Grade A Office Space |
| Education | Significant Growth | The construction of student accommodation has seen a 34% increase in contracts, indicating a booming market. This trend is expected to continue, contributing to overall growth in the education construction sector. Investment in educational infrastructure, including refurbishment and new builds, is a major driver of growth. This sector benefits from government initiatives and funding aimed at improving educational facilities. | Glenigan - Student Accommodation Boom |
| Healthcare | Strong Growth | The UK construction industry is set to benefit from a £300 million NHS Decarbonisation of Estates framework aimed at retrofitting public sector buildings to reduce emissions by 75% compared to 2017 levels. This initiative includes insulation, renewable heating installations, solar panels, and energy-efficient lighting. Additional frameworks, like the £1.6 billion Decarbonisation Solutions for Health, will further boost construction opportunities. Projects across the UK, such as those in NHS Orkney and Mid Yorkshire Hospitals, are already in progress, promising significant growth in the sector. | Decarbonisation boosts NHS construction |
Trends to look for
The construction industry is also set to benefit from technological advancements, with increased adoption of construction management software (CMS) and cloud-based technologies. These innovations are expected to improve project efficiency, reduce downtime, and enhance collaboration across the sector (The Access Group - UK Construction Industry Outlook 2024).
Sustainability remains a priority, with a strong focus on decarbonisation and the use of green technologies. The UK government's commitment to reaching Net Zero by 2050 is driving this shift, supported by initiatives from key industry players and financial institutions (The Access Group - UK Construction Industry Outlook 2024) (ITS Construction).
How can SASGO help me prepare?
SASGO specialise in helping with large scale office and education projects. Providing an end-to-end service from site surveys to final supplies of all your flooring needs, we are poised to help you benefit from any much needed upsurge in new business. To see examples of this, please visit the Projects page. Here you will find a number of public sector flooring and sub-floor projects that SASGO has worked with contractors on.
We support your projects with a project management approach, understanding construction site dynamics and challenges. Our FORS Silver accredited fleet ensures precise delivery to site locations, while our experienced staff provide expert advice, on-site testing, and material quantification. Our trade counters open early for convenient supply pickups, and we stock top flooring brands for immediate delivery. Whether you're a main contractor, large or small flooring contractor, fit-out contractor, or screeding company, SASGO helps keep your project moving efficiently.
For more details, visit the How We Help page. Or, get in touch with a member of our expert customer service team today to discuss your next project on 0330 053 2500. Alternatively, you can send us an email at sales@sasgo.co.uk and our team will get back to you within 24 hours.
