Has the election paused the recovery or slowed the decline?
Our last report in April highlighted a conflicted market with some areas really struggling whilst others, like the high-end residential and international market, remain buoyant. The last couple of months have continued in a similar vein but with redundancies slowing and new jobs often put on hold. The architectural jobs market therefore appears to be finely balanced and poised to react to the election result.
Thankfully, inflation has dropped significantly over the last few months to 2.3% and there are now real hopes that interest rate cuts are not far off. This should have a positive impact on the UK’s housing market which is the one sector that has been hit the hardest over the last couple of years. Labour's pledge to overhaul planning laws and build 1.5 million new homes over the next five-year parliament also appears to have been popular with the architecture industry according to our recent survey.
If the polls are correct, the architecture industry will be feeling confident about the future and we expect a busier summer than normal. Underneath all of the political turmoil, most of our clients are gaining an increasing number of new projects and preparing to recruit over the next couple of months. The delays caused by the second staircases requirements have gone through the system and we hear many of these projects are now returning. Within the luxury sectors especially, skills shortages are also developing and firms are competing to hire the best candidates which is starting to raise salaries. With interest rates due to fall, there is a lot to feel optimistic about for the second half of the year.
You can see a full list of our jobs on our website at www.9bcareers.com but some of our latest roles can be seen below:
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Design Manager @ Company | Diploma in Building, Auto-cad
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