Architects continue to feel good about the state of the market Abode2 confirms, with practices in all UK regions expecting workloads to grow over the next three months, for the sixth consecutive month. Private housing and commercial sectors continue to lead the growth, while the public and community sectors is expected to contract.
The latest update from the RIBA tells of a “strongly positive” Future Workload Index reading in August, with most practices expecting workloads to either rise or remain the same in the coming quarter. Around one in 10 (9%) expect workloads to dwindle (the same level as last month).
In August, workloads were 7% up on a year ago and all regions and practice sizes “remain confident about future prospects”.
Optimism in London has, however, is waning: RIBA’s August index reading of +12 is down 5 points from July’s figure of +17. While this is the sixth successive month of confidence in the capital, it is the second month of a falling balance.
Overall, the August Future Trends survey continues to show broad-based confidence amongst the profession, however, confidence is softening across the board.
In part, the outlook is settling following the surge in optimism that followed the lifting of Covid-19 restrictions and the successful vaccination programme. Nevertheless, architects face numerous challenges which together are somewhat dampening expectations about future workload. These challenges include the ongoing effects of the pandemic, the current trading relationship with the EU, and shortages of materials and tradespeople.
Commentary from practices this month highlights the recurrent issues of construction product shortages and associated prices rises, planning application delays, cost increases (particularly Professional Indemnity Insurance) and pressure on fees.
COPYRIGHT © Abode2 2012-2025