BUILDERS are looking towards next year with “cautious optimism” after data from the Office for National Statistics yesterday showed that output from the construction industry jumped by 5.3 per cent year-on-year during October.
Brian McQuade, managing director of Kier Construction’s Scottish business, said: “It means everyone in the industry can look forward to 2014 with optimism – albeit still cautious at this stage – as the indicators are pointing in the right direction.”
News of the figures came as Bellway chairman John Watson told the builder’s annual general meeting that reservations have risen by 43 per cent year-on-year in the 18 weeks to 30 November.
Watson now expects completed sales to rise by 20 per cent in the six months to 31 January.
But Scottish Building Federation managing director Vaughan Hart warned that the recovery remained “fragile” as output from “private sector house-building and commercial construction remains significantly below where it was five years ago”.