The UK Building Completion and Finishing sector saw significant fluctuations from 2013 to 2023. Turnover steadily increased from £23.89 billion in 2013 to £38.84 billion in 2023. Despite a notable drop of 17.12% in 2020 due to the pandemic, the sector experienced a robust recovery with a 23.59% increase in 2021, leading to a turnover of £37.03 billion. By 2023, year-on-year growth rate was 2.36%, and Compound Annual Growth Rate (CAGR) over the past five years stood at 3.43%. Future forecasts predict a 5-year CAGR of 1.79%, signifying a more stable but slower growth trajectory, expected to reach £43.51 billion by 2028.
Future trends to watch for:
• Impact of evolving regulations and sustainability initiatives.
• Technological advancements and digital transformation in construction practices.
• Economic conditions and potential market disruptions.
• Changes in consumer preferences towards green building standards.
