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32,000 new construction jobs in South West to boost property market supply

The South West will see nearly 32,000 construction industry jobs created during the next five years as developers look to ease demand for housing.

Nearly 32,000 construction jobs will be created in the South West during the next five years, according to the Construction Industry Training Board.

Their Construction Skills Network forecasts suggest average output will grow by 5.1% annually until 2018 and will be a key driver of growth in the region, alongside infrastructure.

The South West as a whole will see the highest annual output for any region of the UK at 3.5%, considerably ahead of the national average of 2.2%.

Demand for new property means 245,000 new homes are required across the UK each year, meaning the workforce in the South West is set to reach 229,600 by 2018.

Roger Stone, Sector Strategy Manager for CITB in the South West, said: “The Construction Skills Network’s report shows that the economy is turning the corner and the South West’s construction industry will benefit from that.”

Meanwhile, CJH Land have said a number of brokered agreements have been reached for developments around Bristol in the last year.

A separate report by estate agent Allen & Harris found that high demand for Bristol property has pushed the average cost of a house in the city up by £10,000 over the past 12 months. The average home in Bristol was worth just over £208,000 in December 2013.

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