Yorkshire’s construction sector has been cautioned to avoid “taking its foot off the gas” after signs emerged that the region’s marketplace is slowing.
A report recently published by Begbies Traynor claimed that the region’s construction sector is starting to exhibit ‘signs of improvement’, revealing that the number of contractors experiencing ‘significant’ distress has fallen by four per cent since June.
Now Wates Construction, the contractor tasked with delivering the first phase of CEG’s £400m Kirkstall Forge project in Leeds, is calling on the region’s construction sector to collaborate more closely.
Paul Dodsworth, business unit director of Wates Construction Yorkshire, said: “It is with open arms that we welcome the data published by Begbies Traynor. The report demonstrates that the industry has strengthened, both year on year, and over the past three months, which is undoubtedly music to our ears. The onus, however, is on the industry to ensure this momentum of growth is sustained. Now more than ever must contractors rally together and work collaboratively to identify the ways in which we can maintain and accelerate market growth.
“In doing so, the industry can take steps towards safeguarding the longevity of the sector and avoid being lulled into a false sense of complacency in the wake of this data. There has been a mixed picture for construction in the region in recent years, however Begbies Traynor’s report certainly sheds a positive light on the state of Yorkshire’s marketplace.
“While the impact of the referendum result on construction is yet to be understood, it is clear that there has been a resurgence of confidence in the sector. Our responsibility therefore lies in ensuring this level of growth is sustained and we urge our industry peers to join us in this commitment.”
Wates recently completed two large developments in Leeds, 6 Wellington Place for MEPC and Central Square for Marrico.