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Is HS2 keeping the industry afloat?

Demand for new builds falls as priorities shift, but growth could be stabilised by High Speed Rail.

The High Speed Rail 2 megaproject is back in the news with reports an extra £5billion will be needed to complete the proposed route. A revised Euston terminus was put forward in 2020, but has already failed to meet targets.

There has been speculation in recent weeks as to where the rail line will end, forcing the government to confirm that the track will run into London Euston as planned.

Since the project was announced in 2009 the build has been met with a raft of controversy However, the sector could be benefiting from its construction.

Recent data has seen a huge increase in civil engineering, and HS2 maybe responsible. With more investment needed in HS2 demand for other transport related activity has increased.

There has been a lull in construction this year, with a dip in domestic builds stalling growth. Interest rates have continued to impact the housing market which has seen its sharpest fall in almost three years. March 2023, saw lower demand for new homes due to high mortgage rates and inflation.

 

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Have you noticed a drop in the number of jobs you’re contracted to do? Or is the continued labour shortage still creating demand?

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Mark McPherson

Mark McPherson has an MA in Creative Writing and has been crafting content for over a decade. He writes for a range of niches, including the construction industry and insurance sector. Mark has worked internationally as a content writer and teacher.

All articles by Mark McPherson

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