The effects of the current crisis…
The current financial crisis is affecting all aspects of our daily life – business and personal – and nowhere is this being felt more keenly than in the construction industry.
Not only has the industry been very badly affected by the severity of the credit crunch but also by the speed of the downturn which has been very sudden and widespread. This is especially so in the residential sector with difficulties in the mortgage and financial industry severely affecting the housing market.
The effect of this slowdown can be seen throughout the industry as a whole, affecting many consultant practices such as Architects, Structural Engineers, Geotechnical and Civil Engineers in most parts of the United Kingdom.
Well established companies that have earned a good reputation in their particular field of expertise, companies such as Robert Harley Associates, Consulting Structural Engineers in Bournemouth who offer a comprehensive range of services with projects ranging from small domestic to multi-storey designs, will continue to look to the future and offer their services while others may struggle to survive.
The financial markets will come to terms with the credit crunch and the business sector will resume trading on a more balanced keel. With the forecast of lower interest rates over the forthcoming twelve months, responsible mortgage lending, and sustainable re-financing for business we can look forward to re-establishing the housing market on firm foundations and the future success of our economy.
