Gareth Belsham, director of the national property consultancy and surveyors Naismiths, commented:
“This data is the Boris bounce made flesh. After three and half years of sliding numbers, the construction industry finally appears to be stopping the rot.
“While output is technically still declining, such an abrupt softening of the falls seen last year bodes well for 2020. Even better is the levelling off in new orders, which fell consistently in 2019.
“Taken together these numbers reveal an industry turning a corner, propelled by a renewed sense of optimism and possibility.
“Private sector developers who had spent months holding off or mothballing projects are rushing to get them back up and running. Meanwhile the Government has pledged to invest £100bn in infrastructure over the next five years – forcing the industry to ask itself how well it might handle a surge in new work.
“The Government’s strategy of not mentioning ‘the B-word’ after last week’s historic events is likely to set the scene for the coming months. Brexit may be ‘done’ in name only, but the lengthy trade negotiations between London and Brussels are, for now, likely to be ignored by a construction industry intent on making up on lost time.”
