The construction industry in the United Kingdom is now in the middle of its worst decline for 30 years. Thousands of construction workers are now redundant and things can only get worse. But why are we not surprised by this state of affairs.

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In 2007  apartments were being built within all our towns and cities at such a rate that supply was outstripping demand to the ratio of 50%. Whilst these apartment blocks were no doubt improving the inner landscape, they were creating virtual ghost towns. The fact remained that Mr & Mr Executive were not becoming inner city inhabitants and returning to their country residences at the weekend. The people buying the apartments were private landlords hoping to make a quick buck by selling the apartments on in a rising market. The apartments laid empty has rentals were simply not affordable and those who did want to rent had such a huge choice.

Today you can now purchase a one bedroom apartment for the region of £85,000 a mere £100,000 cheaper than a year ago.

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Now the banking sector has declined in such a dramatic  fashion a huge void has been left in any future of any new projects. Banks are now demanding that developers now only employ construction companies who have a workload of public sector clients and private developments are deemed to be beyond risk.

As for construction professionals the once re veered  Architects and Quantity Surveyors are now at the front of the queue at jobs centres. Major architectural companies are now have send their staff to all parts of the globe in order to keep them in employment.

So are there any green shoots on the horizon ? Well certainly the social housing market will expand in the coming months as the government forces out its newly printed £50 notes into the economy. The Building Schools For The Future programme continues to keep the industry afloat and will do for the next three years. Architects and engineers are also reporting  an increase in new instruction, however rates in the housing sector continue to plummet with subcontractors trying to generate work. Rates for plasterboard and skim are now at £5.88 m2 down 30% form January and 3 coats of emulsion costs you just £2.400m2

Are there any winners in the ailing market? Building Estimators are like gold dust as employers are desperate to bring in the new work and easily demand six figure salaries.