Construction experts are “uncertain” about the sector's future prospects, following a slowdown in growth in recent months in the wake of the Brexit vote.
A survey by the Royal Institute of Chartered Surveyors (Rics) found that while 19% more chartered surveyors had reported a rise in construction workloads in the current quarter, this was a “significant slowdown” on the trend growth over the previous three years – and the lowest reading since the second quarter 2013.
Rics said that while respondents to its poll had highlighted generally subdued growth in the third quarter, they were more optimistic about the year to come, with 49% more respondents forecasting a rise in workloads rather than a fall.
On average, those surveyed expected activity to rise by 2.5% over the next 12 months, the institute reported.
Expectations for employment growth had also improved, Rics said, with 35% more respondents forecasting a rise rather than a fall, up from 18% in the second quarter.
“However, both workload and employment expectations are still lower than pre-second quarter levels.
“Anecdotal evidence from respondents suggests that uncertainty relating of the UK's future relationship with Europe is still causing them concern regarding their future workloads,” it added.