Since the recession began a large percentage of tradesmen have found it increasingly difficult to find work, mainly due to the fact that both the government and the public have been spending less money on construction projects. However, even though Britain – as well as numerous other countries worldwide – is going through a recession, at the same time the country’s population has increased at an outstanding rate. Both these events have had a hand in causing the current housing crisis – a lack of affordable housing for the amount of people living in the UK.

The housing crisis has led to a number of issues including overcrowded homes, rogue landlords taking advantage of those in need and numerous properties becoming run down and unfit for use. This is why the government announced that they were to invest in the construction industry which they hoped would not only alleviate the housing crisis but also help boost the economy. So far the scheme seems to be going well, especially as the number of people now able to buy their own properties is increasing and the construction industry is reporting growth.

Now, it has been reported that over the next four years it is expected that the construction industry will see a huge boom, with a forecast from the Construction Products Association (CPA) claiming that there will be a nineteen per cent growth by 2017. Discussing the forecast, Economics Director of the CPA, Noble Francis, said: “Construction is set to enjoy growth over the next four years as it recovers from its worst recession in over 35 years. This is mainly due to private housing, which is experiencing a rapid rise, and infrastructure, which is seeing a more gradual return to positive territory.”

“The private housing sector is being driven by recovery in the wider economy and the impacts of policies including Help to Buy, which have driven both house prices and house building. This is expected to lead to private house starts increasing 19.0% in 2013 and 15.0% in 2014, albeit from historic low levels of house building.” However, even though the future is expected to look promising for tradesmen there have been warnings that there is still a long way to go until the sector becomes stable.

Mr Francis added: “Although rapid growth is predicted over the next 18 months, uncertainty remains around what will happen when the policies end, given that the housing market is unlikely to be self-sustaining by then. Government now appears, however, to be refocusing capital investment towards repairs and renewals. In addition, work on Europe’s largest construction project, Crossrail, is expected to peak over the next 18 months. As a result, growth of 7.4% is forecast in 2014.”

“In the longer-term, the prospects for infrastructure will be reliant upon investment in the replacement of energy capacity across nuclear, offshore wind, gas and shale, all of which remain uncertain. Driven by this investment, we predict the sector will enjoy further growth of 27.9% between 2015 and 2017. After suffering from an extremely tough market for over five years, and acting as a drag on UK economic activity, construction is set to grow every year between 2014 and 2017. This should provide a considerable boost to the wider economy.”

While tradesmen in the UK may be glad to hear that the sector is set to improve over the next four years they should still be wary, as it cannot be predicted what changes to the economy may occur in the future. This is why budgeting for necessities such as tools, tradesmen insurance and rent for business premises is still essential for all tradesmen if they want to ensure their company’s safety. At the same time, tradesmen should anticipate the upcoming increase in demand for their services and ensure that they have enough resources, staff and equipment to make the most out of a booming market. Even tradesmen who are not directly linked to the construction industry should also be prepared to take advantage of the improving market, either by developing their skills or looking at new ways to advertise their services.