Construction Industry Predictions For 2015
With a general election set to take place in May 2015, things are likely to change here in the UK so we’re keeping our readers up to date with some predictions for what’s likely to happen within the sector in the coming twelve months. We’re aware that for those who work within the industry, having a good idea of key developments is essential, along with any likely government priorities and other challenges that are likely to shape the year ahead.
With political uncertainty surrounding the election, an increase in construction costs and different types of property taxes are likely to have an effect on the building trade, whether it’s in the domestic or commercial sector. While commercial demand in the London area has led to tentative hopes of a recovery from the dark days of the economic downturn, a lack of development finance and planning has led to a shortage of supply. The increase in work that those in the construction industry are expecting may take a few years longer to come to fruition. With cuts expected for local authorities nationwide, an improvement may be difficult to recognise, but rest assured, it is on its way.
You may have heard of the rapid technological developments in the 3D printing industry and this is likely to influence building material manufacturers in the coming years as this exciting new technology gains pace. A number of architects are expecting 3D printing to bring cost effective, fast and sustainable construction of custom made architecture. This exciting new technology is set to change the world and the way in which we live, maybe not tomorrow, but certainly over the next five years or so.
Another technological development which is likely to affect the construction industry in a huge way is the Internet of Things (IoT). The IoT is the term used to describe the interconnection of uniquely identifiable embedded computing devices within the existing internet structure. This means an advanced connectivity of services, systems and devices which should lead to automation in just about everything, including homes and workplaces. In other words, we’re looking at “smart houses” and “smart offices” and new builds will need to be designed with this in mind – extra cabling spaces and plenty of electricity outlet points. It’s not just new builds that will benefit from the new technology, the construction industry is likely to see a demand in over the coming years for retrofitting of this type of technology in existing buildings.
Modern technology is not just changing the way we work, live and play, it’s actually changing our built environment and this can only be a positive development for the industry as more and more workplaces and homes modernise in a bid to stay ahead of the game.
With so many positive things to look forward to, perhaps the recession really is on its way out, not just for our sector, but for other industries here in the UK and worldwide. We’ve all had enough of the gloomy economic climate, so let’s all go forward into 2015 with a renewed hope for a brighter future.