PRESS RELEASE BY MBD...

UK ARCHITECTS MARKET RESEARCH REPORT

RELEASED: MARCH 2007

After researching the UK architects market development and taking into account various other factors the following conclusions can be drawn from MBD's report:

MARKET REVIEW 2002-2006:

Architects’ Fees in the UK have demonstrated strong year-on-year growth during much of the five year review period up to 2006, reflecting a buoyant construction market. During the first half of the review period annual growth levels fluctuated between 15% and 18%. In 2005, a more moderate 6% increase was recorded, partly reflecting a slowdown in public and private construction output. In 2006, nominal growth of 11% is believed to have taken architect’s fees to £4286.7 million, representing an increase of a significant 59% compared with 2002. During 2006, demand for architectural services is believed to have been driven by high levels of construction output in the public housing, private commercial and industrial sectors.

MARKET FORECAST 2007-2011:

Fees for architects in the UK are forecast to increase year-on-year during the five year forecast period up to 2011. Annual growth levels are expected to remain strong at around 6% in real terms in 2007 and 2008, with a more moderate development anticipated in the longer-term. Overall, architects’ fees are forecast to increase by 25% in real terms between 2006 and 2011. The ability of architects to raise rates above existing levels is expected to be hindered due to the continued price sensitivity in the building sector, thus restricting a stronger market development. Demand for architectural services is expected to be driven predominately by construction projects associated with the 2012 London Olympics as well as by further strong output growth forecast in the private and public housing sectors.

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