This week, Greyfriars Cost Management sponsored the 10th Regional Contractor Survey presented at the Norfolk Constructing Excellence event. We are excited to share the presentation slides from the event, where our Director, Tim Boucher, shared the survey results with a sold-out audience, following an insightful economic forecast by Kieran Dent from the Bank of England.
Tim Boucher, alongside Emily Purchase, Vice Chair of Norfolk Constructing Excellence, presented the survey findings from the Eastern Region. The results of the survey were mixed, highlighting both positives and uncertainties, particularly regarding recent government policies. Key industry challenges discussed included planning policy, political influence, and environmental regulations. There was significant debate on whether the new National Planning Policy Framework (NPPF) and a potential Labour government could unlock development opportunities in the East of England.
The survey also explored the issue of nutrient neutrality, with a blend of optimism and uncertainty reflected in the responses. Notably, 61% of respondents reported an increase in clients seeking more sustainable buildings, underscoring a shift in market priorities driven by policy, design, and client demand.
Key takeaways from the survey included the expectation of economic stability over the next 12-18 months, ongoing skills shortages in the industry, and the sectors predicted to be most active this year: health, education, and residential. The construction industry continues to navigate uncertainty caused by factors such as Brexit, political challenges, COVID-19, inflation, interest rate rises, and geopolitical conflicts.
The survey compared the outlook from March 2024 to the present, providing valuable insights from main contractors and consultants. This information will help guide clients towards better value in their projects. The presentation also reviewed some of the data from the first survey in 2015, with little changing in terms of challenges faced by contractors.
We will also be releasing an extended version of the survey results, including some of the additional questions we asked Main Contractors that we could not include at the NCEC event.
If you would like Greyfriars Cost Management to present the results of the Contractor Survey to your team, please get in touch.
We are excited to share the presentation slides from the event below;