Growth experienced in the UK construction sector in Q3 2024

Growth experienced in the UK construction sector in Q3 2024

The UK Office for National Statistics announces a rise in output from the construction sector from September 2024.

The growth experienced in September means growth from the last 3 months is up at 0.8%.

Within the construction sector, growth was experienced in different areas, with new work seeing an increase of 2.0%, and infrastructure for new work seeing an even larger rise at 2.8%.

The initial output statistic of 0.1% rose to in relation to a 0.4% rise in maintenance and repair work.

Four of the sectors that make up the construction industry saw growth, with repair to private housing seeing a rise of 1.3%.

Overall GDP was estimated to have experienced a 0.1% growth, meaning the growth in the construction industry over the past 3 months is a key player in the recent success.

Applying for construction finance

Our construction team will be able to assist with any of the financial needs you may have. Thanks to our in-house property specialists on top of this, this allows us to help if you are a property developer or if you are looking into investing into a new site.

If you need further information, email enquiries@maffinancegroup.co.uk, call 0115 958 6872 or fill the enquiry form out below.