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Beneficial effects of HS2 revealed

11 September 2018

Five regions are seeing considerable increases in residential, commercial and infrastructure activity attributed to the £55.7bn HS2 project, according to a recent report.

These activities will additionally have a number of connotations for the FM sector in the areas concerned.

Haringey and Islington, Hounslow and Richmond upon Thames, Birmingham, Warwickshire and West Northamptonshire have all been seen to have experienced a major uplift in activity.

These were identified within the Regional Construction Hotspots in Great Britain 2018 report released by industry analyst Barbour ABI and the Construction Products Association.

In addition to the hotspots of activity, the report also identifies the areas where activity levels have fallen significantly when compared with previous years.

From the five regions experiencing the most growth, West Northamptonshire was shown to be the most successful in 2017, with a rise of nearly 198% in contracts awarded.

The national average for last year was just 4.3% and the region also saw growth in construction of 10.9%, compared to the national average of 6%.

Significant expansion of contracts awarded were seen in all the remaining four regions identified, including 178.5% for Haringey and Islington, 147.5% for Hounslow and Richmond, 118% for Warwickshire and nearly 93% for Birmingham.

All five regions have been identified as transport hubs for the HS2 project, with the report stating that this is driving the increased activity.

Barbour ABI lead economist Michael Dall said: "The sheer size of the HS2 contracts will have a transformational impact on the amount of infrastructure work over the coming years, and will also create associated residential and commercial construction opportunities.

"The commercial sector in particular has been challenged since Brexit so it will be interesting to see whether the HS2 development provides a boost to this sector," he said.

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