Architects fees will only recover slowly, report warns

Numbers unlikely to hit 2008 pre-recession levels.

A new report has warned that architects’ fees are unlikely to return to pre-recession levels over the next four years.

Business market research specialist MCI said that fees will slowly recover between now and 2016 but said it was unlikely they would get back to levels last seen in 2007.

It said that fees slipped 8% in 2008 before crashing 23% a year later when the recession began to bite.

It added: “Prior to the initial recession of 2008 the value of fees increased and growth was driven by a buoyant construction market with the need to increase housing supply resulting in strong output growth in the private and public housing sector.”

The report predicted only a modest recovery for private housing and said any upturn in private building would be slow and gradual with fears about the Eurozone hampering an upsurge in the commercial sector.

Source: BDonline

Related articles

• From dream homes to hellholes: architects shed light on the way we live (guardian.co.uk)
• Credit Card Purchases May Soon Carry a Surcharge (riehlworldview.com)
• Attendance Trends: Overall Results (reachadvisors.typepad.com)
• House prices won't recover until 2020, warns PwC (gateway-homes.co.uk)
• Recession 'still affecting commercial property insurance customers' (premierlinedirect.co.uk)