Construction workloads in London rose significantly between April and June of this year, according to the RICS UK Construction Market Survey Q2 2015.
In the second quarter of 2015 50% more respondents reported higher activity levels (up from 35% on the previous quarter), driven by office development and private house building.
There were also 82% more respondents in London who expect to see their workloads rise over the next 12 months and respondents, on average, forecast growth in the same period of 3.8%.
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RICS director of the built environment, Alan Muse, said: “The upturn in workloads has led to a less competitive tendering environment, particularly across public sector projects, but a lack of accessible finance is now affecting a net balance of 58% of our members and while concern over labour shortages across the UK as a whole dipped slightly, the demand for cost and project management skills rose.
“Also typical as workloads recover is the emergence of other impediments to growth - outside of labour and finance constraints - such as planning and regulatory barriers, which could be exacerbated if cuts are made to local authority planning departments as backlogs in planning applications could have a knock-on effect to work pipelines.”