Neil Baines, Managing Director of Steven Hunt Associates shares his predictions for 2024.
“In the construction industry for 2024, a prominent challenge lies in managing the prolonged repercussions of the cost of living crisis and the post-brexit era, which continues to affect supply chains and labour availability. There’s also the demand for sustainable construction practices. Adaptation is key to thriving in this shifting landscape.
“The UK construction sector grapples with economic-related disruptions, resulting in supply chain inefficiencies and material cost increases. Notably, the Construction Products Association reports that the prevailing economic conditions of flatlining growth, stubborn inflation and interest rates remaining at peak throughout 2024 are likely to mean a drop in output. Labour and skills shortages are affecting workforce availability and helping the drive to improve productivity by adopting new digital technology. Clients’ preferences are shifting towards green construction methods, emphasising the need for sustainability.
“The UK construction industry in 2024 faces a unique set of challenges. Firms need to prioritise sustainability, embrace digital solutions for efficiency, and navigate labour constraints. Adapting to these circumstances is essential for success in this evolving market. We can’t ignore the importance of long term recruitment planning, sustainable practices and digitalisation.”
