At Lindford we don’t have a crystal ball. However, others far braver and cleverer than us have put their necks on the line so we don’t have to! Here’s a little summary of some of 2019 construction predictions from those brave enough to declare them…
Retention & Collaboration
Over at ClarksLegal, Ruth Wilkinson notes that Richard Harrington MP recently made a bold statement about retention payments. He predicted a significant change to the law soon. Ruth also questions whether 2019 will be the year of collaboration? We’re fairly sure the folk at the B1M would like it to be.
Another prediction, from James Dearsley of ‘Proptech today’, is that the ‘proptech’ sector will continue to grow. Indeed, we’re now seeing a lot of development and innovation in the ‘ConTech’ sector too. There are a plethora of new enterprises emerging in these sectors. Technology and apps are aiming to save money and time on projects around the world. Take a look at James’ article here.
Diversity and the skills shortage continue to dominate the industry, whether you like it or not. From Construction News’ ‘InspireMe’ campaign, to the ongoing skills shortage, diversity looks set to remain important. ‘FE News’ also highlights the challenges in relation to Brexit for the skills shortage.
Brexit & Material Costs
On the theme of Brexit, we’re aware that material costs are important to many clients. We’ve heard of contractors stockpiling kitchens on large residential developments. The risk of course being that prices for materials from Europe will be unsustainable in the event of a major currency fluctuation. Additionally any delay in delivery caused by changes to customs rules could affect project delivery. Binyamin Ali highlighted this risk earlier in the year in Construction News.
Finally, will Crossrail be ready in 2019? Not even Mayor of London, Sadiq Khan knows. The project, much like the Jubilee Line extension in 1999 has been beset by difficulties with signalling. Labour shortages have also arisen, apparently caused in part by demand at Tottenham’s new stadium. This view from across the pond suggests it’ll be worth the wait though.
Ultimately we can’t be sure what’ll happen in the next 12 months. But as soon as we hear, we’ll do our best to keep you abreast of any changes that are likely to affect you commercially or legally.
Very best wishes for Christmas and the New Year.