Latest monthly trends analysis from Hudson Contract, a leading provider of payroll services to the UK construction industry, shows pay rose by 1.9% during October while year-on-year earnings increased by 4.8%.
London saw the strongest growth (up 4.9% to 拢1,147) followed by Wales (up 4.4% to 拢1,208) and the East Midlands (up 4.1% to 拢1,097). Insulation, shop fitting and steel and timber frame erection were the trades that saw the biggest increases in earnings.
Hudson Contract managing director Ian Anfield said: 鈥淎longside these rate increases, we are also seeing increases in the number of payments made to operatives by some of our clients.
鈥淗owever, it鈥檚 a mixed bag for the construction industry. Everyone was waiting for the election. Then it came and went. Everyone was waiting for the budget. Then it came and went. Now, everyone is waiting for the promises of planning reform and infrastructure investment to come to fruition at the same time as waiting for legislation that was mentioned in the budget to bite.
鈥淢eanwhile, despite the politics, there is still strong appetite for high-rise concrete frame structures in big conurbations like Birmingham, Leeds, Manchester, Newcastle and Sheffield.
鈥淭he housing market has proved more resilient than expected despite rising mortgage prices as demand still outstrips supply in some areas and investors favour build-to-rent schemes. The Home Builders Federation has warned that, while many government policies are aimed at increasing supply of new housing, there are insufficient policies to increase demand. The major house-builders do not believe there is demand from the people who can afford to buy at the level the government wants to achieve.
鈥淭he government will need to extend the help to buy scheme, come up with something entirely new or deliver huge new social housing schemes to come anywhere near 1.5 million homes in five years.鈥�
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