16th November 2017.

Skills Shortage Holds Back Construction Industry

Britain’s shortage of surveyors, bricklayers, and other construction workers, is holding back building work throughout the country.

According recent data from the Royal Institution of Chartered Surveyors, almost two thirds of surveyors admitted that a lack of skilled workers is holding back building work.

A further 62 per cent of construction businesses reported recruitment problems and fear the overall damage this could do to the industry.

This figure is the highest in two years, the highest in the survey’s history.

Despite the skilled shortage, the sector is continuing to grow.

While a high number of companies did report difficulty in finding funding, this was a drop of 10 per cent from earlier in the year. 69 per cent claimed finance difficulties in this quarter of the year, compared to a high figure of 79 per cent earlier on.

According to the RICS survey the industry is also expecting profits and employment to rise over the next year, with workload following close behind.

Jeffrey Matsu, RICS senior economist, warns that while the industry is experiencing some positive activity,  the current Brexit uncertainty could lead to further issues for the sector; with bank lenders hesitating over lending and expansion opportunities.

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