Two Thirds Expect Prospects To Improve During Next 12 Months

Two thirds of construction firms in Yorkshire are more optimistic about their future prospects than they were 12 months ago, according to a new report.
 
The survey of over 600 companies by national law firm Irwin Mitchell did highlight however growing concerns amongst senior decision makers about the cost of labour - with 61% of expecting wages to rise during the rest of 2014.

According to Irwin Mitchell, this is being caused partly by a skills shortage in the sector. The law firm also highlights the growing issue faced by main contractors who are seeing tender return prices increasing due to subcontractor inflation following a long period of flat prices. 
 
The survey also revealed some significant differences in optimism in different parts of the UK with the lowest level of confidence recorded in Wales at 62%. The figure for Northern Ireland stood at 75% whilst in Scotland the figure stood at 64%.
 
Within England, levels of business confidence were highest in the East Midlands (84.6%) and lowest in the North West (64.7%).

Julie Morrissy, Construction Partner at Irwin Mitchell in Sheffield, said:

Steven Bate, A Leeds-based Partner at Irwin Mitchell and a specialist in construction litigation, added: