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UK residential construction market expected to continue recovery
July 8, 2011
By prameelav
The residential construction market in the United Kingdom (UK) is expected to continue its recovery in 2011 and grow at an overall CAGR of 2.9% to 2015.
Overall, the construction industry is expected to grow at a CAGR of 3.64% to 2015. After a disappointing performance in 2008 and 2009, government support through stimulus packages and investment in infrastructure development proved helpful for the infrastructure market which, along with other construction markets, recorded single-digit growth during 2010.
As far as individual sectors are concerned, the residential market in London is experiencing a strong revival in demand because of its strong image as a vibrant global financial market. A total of GBP7.9 billion (US$12.25 billion) in both foreign and domestic funds have been earmarked for investment in residential development and investment in the UK. Owing to these, the residential construction market that had nearly stagnated is expected to achieve a CAGR of 2.9% to 2015.
All these and many more facts and figures in addition to an in-depth analysis can be found in the report: The Future of Construction in the United Kingdom (UK) to 2015: Infrastructure Projects Driving Industry Growth as Residential Investment Stagnates published by World Market Intelligence (WMI).
To access the complete report, please visit our premium subscription Construction Intelligence Center product www.worldmarketintelligence.com/ic/construction
Posted by prameelav on July 8, 2011 9:51 AM
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