Consultancy firm Arcadis predict that a weaker pound will encourage foreign investment, leading to a more buoyant property market that will favour the construction industry.
According to Arcadis head of commercial development Mark Cleverly, “This influx of investment coming into the UK could boost British construction again in the future as well as giving shot in the arm to the Treasury through increasing stamp duty receipts. For a market that, in some areas, has been stuttering for some time [...] the buying opportunity presented by recent events could be a big plus.”
The construction industry accounted for 6.2% of UK jobs in 2015, and is predicted to grow by an average of 2.2% per year between 2014 and 2018.
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