Construction North Wales
Construction North Wales is steaming ahead once again. The construction industry has seen great improvements over the past few months.
The financial crisis affected many industries negatively; particularly the property market and this in turn had a knock on effect upon the construction industry including construction North Wales. This was due to a drop in demand for new homes and a lack of investment in maintenance projects like sea defence.
Now we are witnessing the property market turn around. House sales are increasing but so is the rate of first time buyers looking for properties. Houses are also selling much faster in the past few months. The best results and fastest improvements have been taking place since May. Over the summer months we have continued to see improvements in the property market. This is great news for construction North Wales. The construction industry is already seeing vast improvements as new jobs are being created in the sector and brand new construction projects are taking place.
The town of Mold in Flintshire is seeing the benefit of this industry improvement. A new social housing development worth 8.5 million pounds is underway and will significantly boost the local economy. It includes a 61 home extra care complex. It is very good news to see this kind of project return to North Wales and receive such support.
The construction industry in North Wales is now creating new jobs too. There has been a renewed demand for new homes to be built and new projects to take place to regenerate various structures and areas in North Wales. Construction companies are experiencing a highly positive outlook for the future. Many local companies are taking on new projects and hiring more people.
There has been encouragement from construction companies to create more Newbuy schemes in Wales. It is believed that this will help keep the increase in work going and help the industry continue to thrive along with the property market. Newby schemes have been successful in England and have even improved employment. Mortgage lending is at a five year high so the outlook is bright for construction North Wales.
