UK construction output has been significantly downgraded ahead of the Winter Budget, according to the Construction Products Association. It’s now only forecast to grow by 1.1% in 2025 and 2.8% in 2026 – down from 1.9% in 2025 and 3.7% in 2026. Pre-budget jitters are to blame…
Output in private housing is forecast to rise by 2.0% in 2025 and 4.0% in 2026, down from the previous forecast of 4.0% in 2025 and 7.0% in 2026. Confidence among homebuyers, homeowners, and investors has also weakened as people brace for tax hikes…
CPA Head of Construction Research Rebecca Larkin said:
“The pickup in construction activity that had been expected at the start of the year has not materialised as uncertainty continues to hold back house purchases, home improvements spending and private sector investment decisions. The risks and uncertainties around the impact of impending tax rises in the Autumn Budget in November have only intensified and this is likely to leave households and businesses holding off spending and investment for longer, and limit demand in the largest construction sectors.”
So much for ‘build, baby, build’…
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