£6.3 billion worth of contracts awarded in May

The latest information from Builders’ Conference shows that there were 551 contracts worth £6.3 billion awarded in May. The number is 13% higher than the monthly average over the past year and it is the fifth time in the last six months that the value has exceeded £6.0 billion, indicating a sustained recovery for construction post COVID‐19. 35% of all the contracts awarded by value were housing (£2.2 billion), with rail projects making up 17% (£1.1. billion) and office projects 8% (£517 million).

The number of tender opportunities was consistent with the previous month but remains 25% below the monthly average for the past year.