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RELEASED: DECEMBER 2008
After researching the UK architects market development and taking into account various other factors the following conclusions can be drawn from MBD's report:
MARKET REVIEW 2004-2008:
In 2008, the value of architects’ fees in the UK is believed to have declined by 5% to £4394.9 million. The decline largely reflects the worsening economic conditions, which started to significantly affect a number of construction sectors during the year, most notably private housebuilding activity. Prior to that, the value of fees increased in each year between 2004 and 2007, with annual growth levels fluctuating between a nominal 6% and a strong 18%. Growth has been driven by a buoyant construction market, with the need to increase housing supply resulting in strong output growth in the private and public housing sector. Furthermore strong levels of business investment stimulated private non-residential construction output while government programmes such as LIFT and BSF boosted public non-residential activity.
MARKET FORECAST 2009-2013:
Architects’ fees in the UK are forecast to decline in real terms by 9% and 2009 and by 3% in 2010, as the uncertain economic climate is expected to continue to exert a downward pressure on construction activity over the next two years. Architects’ fees are expected to increase between 2011 and 2013, with annual growth levels projected to fluctuate between 2% and 5%. However, as a return to growth in the market is linked to an economic recovery, there is a degree of uncertainty concerning the timing and level of future growth. In 2013, architects’ fees are anticipated to reach £4292.3 million (at 2008 prices), although this still represents a moderate decline of 2% compared with 2008. The sectors with the strongest growth potential for architects over the next five years are expected to be the public housing, health and education sectors.
NOTE TO EDITORS:
MBD specialises in business to business market research. The range of reports and industries in which we operate in constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.
Click here for full details of the UK Architects Market Research Report
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