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RIBA Future Trends Shows Index Falls, Yet Industry Remains Optimistic

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While the RIBA Future Trends Workload Index has been reported to fall considerably at the close of last year, with December’s value sitting at +15, as opposed to the +27 reported in the month previous, optimism is still maintained in the architecture sector. Additionally, the RIBA Future Trends Staffing Index also saw a dip down to +9, a short fall from +14, yet even on this front the sector does not seem overly worried.

Despite a drop in the workload index, it has been highlighted that this is nothing to worry too much about, with the drop itself being hinted to as a predicted fall in enquiries due to the time of the year; a period when there is traditionally a drop in interest.

With larger practices showing little concern at present (+67), the majority remains confident as to being able to maintain a healthy workload as well as respective levels of staff. In fact, a mere 5% has predicted a fall in the number of staff held over the next quarter. Even smaller practices also showed a degree of optimism for their future (+16), with only those practices in-between, with staff levels of 11-50 showing a more pessimistic balance figure of -7.

As of the disparity of results, the majority of the UK did report on positive balances in the index, with only a few regions falling into the negative such as Wales and the West, as well as Scotland, reporting figures of -3 and -50 respectively. On the flip-side, figures shown in the South of England show great results, with a balance of +30 reported.

As for the staffing index, again both large and small practices have maintained a positive balance and market outlook, with those sitting in the middle then again showing a degree of concern, though in this respect maintaining a balance neither positive nor negative (zero in total)

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BDC 317 : Jun 2024