19 August 2016 | Herpreet Kaur Grewal Apex Lifts has won a three-year contract with City Hall, including all servicing, maintenance and repairs.   The City Hall contract includes servicing and maintenance on seven traction lifts – six passenger lifts and one goods lift. Work has already begun on the iconic building in the heart of London.  Warren Jenchner, managing director at Apex Lifts, said: “As [this is] the headquarters for the Greater London Authority, housing the chamber for the London Assembly and offices of the Mayor of London, it is our priority to ensure that there is minimal disruption while we carry out services so that the daily running of the building is not compromised.”   Apex has also won contracts with Apple’s flagship store, Greenwich foot tunnel, One Canada Square and most recently Lloyd’s of London. Source link

ECA poll finds 8 in 10 businesses see turnover steady or increase in Q2 2016 Source link

Activity in the construction sector expanded unexpectedly in September, for the first time since May, providing further evidence that the UK economy has bounced back from the initial shock of the Brexit vote. The survey of purchasing managers in the construction industry rose from 49.2 in August to 52.3 in September. Any result above 50 indicates expansion. The latest figure is substantially better than City analysts had been expecting: on average they had forecast that it would drop back to 49.0. The PMI results are in line with other indicators for the sector. “June and July were sharp falls in sentiment due to high uncertainty leading up to and then following the referendum vote,” said Noble Francis of the Construction Products Association. “But the indications are from industry that activity picked up in both August and September.” With the service sector having grown robustly in July and recent indicators of manufacturing output also positive, there is increasing evidence that growth in the third quarter could exceed the Bank of England’s forecast of 0.2 per cent. Tim Moore of IHS Markit, which carries out the survey, said: “Resilient housing market conditions and a renewed upturn in civil engineering activity helped to drive an overall improvement in construction output volumes [in September] for the first time since the EU referendum.” Sterling appreciated modestly against the dollar when the new figures were released before resuming its downward path. The currency reached a fresh 31-year trough this week. Investors continue to be concerned that Britain could be heading for “hard Brexit”, following Theresa May’s speech at the Conservative party conference on Sunday. There are growing signs that chancellor Philip Hammond, who is the strongest advocate in cabinet for retaining the fullest possible British access to EU markets, will hold less sway than his recent predecessors. The improvement in the construction PMI was driven by an increase in housing activity. In contrast, commercial construction continued to decline in September, as businesses remain cautious of committing to major expenditure. Overall the sector “remains on a much weaker trajectory than seen at the start of 2016”, said Mr Moore. The depreciation of sterling since the end of June, which has helped exporters in the manufacturing sector, has increased the cost of inputs for the construction sector, making projects more expensive. This has added to existing supply-side pressures on the industry. A shortage of skilled labour means wages in the sector have grown more rapidly than elsewhere in the economy. “The three-month average of regular annual weekly earnings growth in the construction sector stood at 5.7 per cent in July 2016 — nearly three times the rate seen for the economy as a whole,” said Ruth Gregory of Capital Economics. The construction sector makes up only 6 per cent of the UK economy. But maintenance and development of infrastructure have knock-on benefits for other parts of the economy, meaning the performance of the construction sector has wider implications for future economic growth. The FT’s one-stop overview of key UK economic data and trends There was some good news for the sector in the chancellor’s statement on Monday, which announced additional public funding for housebuilding and signalled that more money could be allocated to infrastructure investment in the Autumn Statement. Declining public infrastructure and housing expenditure has been a drag on the sector during the past year. However, “long lead times for construction projects mean these funds will take time to boost activity”, warned Samuel Tombs of Pantheon Macroeconomics. The Office for National Statistics will publish its first estimate of construction output in August next week. However, these figures are no longer considered reliable enough to be designated official national statistics. Initial estimates of construction output have been revised up substantially in recent years. On Wednesday, Markit/CIPS will publish the results of their survey of purchasing managers in the service sector last month. As the services sector makes up four-fifths of the UK economy, this will provide more information about how the economy performed in September. Sample the FT’s top stories for a week You select the topic, we deliver the news. Source link

RIBA publishes August 2014 Future Trends Survey results The RIBA Future Trends Workload Index was unchanged this month, remaining at a very positive +28 in August 2014. Sentiment about future workload prospects for the architects’ profession has been strong throughout 2013 and 2014, and we are now beginning to see this reflected in increased levels in the aggregate value of work in progress. The overall recovery in confidence levels continues to be widespread across the whole of the UK, with all nations and regions returning balance figures above +20. RIBA Director of Practice Adrian Dobson said: “The most optimistic forecasts this month were from our practices in Scotland, Northern Ireland and the Midlands and East Anglia, indicating that the high confidence levels have now spread right across the UK as all nations and regions begin to see an improving workload situation.” In terms of practice size, small practices (1 – 10 staff), with a balance figure of +24, remain positive about the outlook for future workloads, but medium-sized practice (10 – 50 staff) with a balance figure of +65, and large-sized practices (51+ staff) with a balance figure of +40 are somewhat more confident. In terms of different work sectors, the private housing sector forecast fell back somewhat to a balance figure of +23 in August 2014, down from +29 in July 2014. However, both the commercial sector forecast (balance figure +23) and the public sector forecast (balance figure +4) saw increases in August 2014. Our community sector forecast was unchanged with a balance figure of +3. All four of our sector workload forecasts currently stand in positive territory, but the private housing and commercial sectors clearly remain the most robust at present. The recovery in architects’ workloads, which has been sustained throughout 2014, continues to be driven primarily by growth in the commercial and private housing sectors. The RIBA Future Trends Staffing Index increased this month, rising to +13 in August 2014 compared with +10 in July 2014, and remaining strongly in positive territory. The overwhelming majority of practices (96%) expect their staffing levels to either stay the same or increase during the next quarter, indicating that the architects’ profession remains confident about maintaining the momentum of recovery. However, we are not yet seeing this confidence manifest itself in a significant increase in aggregate staffing levels across the profession. In July 2014, the percentage of our respondents reporting that they had personally been under-employed in the current month was 13%. Anecdotal commentary received suggests that the overall market outlook for architects’ services continues to improve, with many practices reporting a significant increase in their overall work levels. However, there remains significant competitive pressure on fees and profit margin on projects often remains very tight. Many practices continue to report that maintaining adequate cash flow remains a challenge, often exacerbated by low fee levels and delayed receipt of fees, but the overall picture remains optimistic and the general upswing is maintaining momentum. ENDS Notes to editors For further press information contact the RIBA Press Office: 020 7307 3761 pressoffice@riba.org  The Royal Institute of British Architects (RIBA) champions better buildings, communities and the environment through architecture and our members. Completed by a mix of small, medium and large firms based on a geographically representative sample, the RIBA Future Trends Survey was launched in January 2009 to monitor business and employment trends affecting the architects’ profession. To participate in the RIBA Future Trends Survey, please contact the RIBA Practice Department on 020 7307 3749 or email practice@riba.org.  The survey takes approximately five minutes to complete each month, and all returns are independently processed in strict confidence The Future Trends Survey is carried out by the RIBA in partnership with the Fees Bureau. Results of the survey, including a full graphical analysis, are published each month at: http://www.architecture.com/RIBA/Professionalsupport/FutureTrendsSurvey.aspx The definition for the workload balance figure is the difference between those expecting more work and those expecting less. A negative figure means more respondents expect less work than those expecting more work.  This figure is used to represent the RIBA Future Trends Workload Index, which for August 2014 was +28 The definition for the staffing balance figure is the difference between those expecting to employ more permanent staff in the next three months and those expecting to employ fewer. A negative figure means more respondents expect to employ fewer permanent staff.  This figure is used to represent the RIBA Future Trends Staffing Index, which for August 2014 was +13   Posted on Monday 29th September 2014 Source link

Asking prices have fallen in four English regions, London and Scotland with the UK’s decision to leave the European Union being blamed for the change to a 19 month long rise in values. Overall mix-adjusted average asking price dropped 0.2% since June as confidence among sellers was dampened by the outcome of the referendum vote, according to the latest asking price index from Home.co.uk. London prices, which were already looking the most overvalued, have been hit the hardest, falling 1.1% in just one month which equates to around £6,000 less for the average home in the city. The index also shows that the average asking price in the South East has slipped 0.2% during the last month, but the biggest drop outside London was in the North East with a fall of 0.7%. The index report suggests that this fall comes as a serious blow to a region that was just showing the first signs of genuine recovery since the financial crisis of 2007. However, several English regions and Wales are still seeing asking prices rise. The East Midlands rose the most with growth of 0.7% over the last month, followed by the North West and ales both up 0.4%, Yorkshire up 0.3%, the West Midlands up 0.2% and the East of England up 0.1%. ‘As the Brexit vote is only about two weeks old, we may well see these figures turn negative next month. Whilst the key drivers of lack of supply and cheap credit remain, uncertainty brought about by the Brexit vote is undermining the property market,’ said Doug Shephard director of Home.co.uk. ‘Overall, the current mix-adjusted average asking price for England and Wales is now 6.1% higher than it was in July 2015, and we predict this figure will tend towards 0% over the coming months,’ he added. He expects that both consumer and investment decisions are set to be delayed until there is somewhat less uncertainty about future prospects for the UK economy but uncertainty looks set to remain for some time and when it comes to house prices the fallout from Brexit looks set to cut short the price rallies of several regions including preventing a recovery in the North and making the inevitable correction for London and the South East deeper and more painful. The index report also shows that the supply of property has increased in London by 6%, the East of England by 7% and the South East by 4% while the typical time on the market has increased by two days to 82 days over the last month across England and Wales but is still six days less than in July 2015. The total stock of property on the market is also up again but is still 5.2% less than in July last year. ‘In the light of the referendum result, we revise our prediction of 10% growth per annum for these regions down to 2%. The South West also looked set to become one of the next regional hotspots, however, Brexit and a falling London market will hamper this region’s growth as retirees find it more difficult to sell in the capital and transfer their equity to the region,’ said Shephard. ‘There has been a discernible shift in regional supply dynamics. The number of properties entering the market has increased significantly in Scotland, London and the Home Counties. This data serves to suggest that the property booms in these regions are either over or coming to a close,’ he explained. ‘In the other regions, supply shortages are lessening. This is likely to curtail further price rises as demand, as indicated by an inverse correlation with typical time on the market, is falling in all regions with the exception of, for the time being, Yorkshire and Wales,’ he added. Source link