PRESS RELEASE BY MBD...

UK QUANTITY SURVEYORS MARKET RESEARCH REPORT

RELEASED: AUGUST 2004

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

MARKET REVIEW 2000-2004:

In 2004 growth in the value of quantity surveyor fees in the UK is expected to be considerably more moderate than the growth achieved in 2002 and 2003. The strong growth in fees in 2002 and 2003 is partly attributable to a strong performance in the public non-residential and the private commercial sectors where construction output was increased strongly at that time.

By the end of 2004 MBD project that the value of quantity surveyors fees rendered will reach £1267.9 million, representing an increase in the year of 3% and an increase of some 45% compared with 2000.

MARKET FORECAST 2005-2009:

Despite the threat of the erosion of conventional functional boundaries in the building services sector as a result of developments in information and communications technology, MBD believe that there are clear opportunities for quantity surveyors to capitalise on the resources and capabilities that they have gained in order to continue to add value to customers, albeit through an increasingly professional and management function. While the challenges of the external market will undoubtedly continue to encourage both cultural and organisational changes in the sector, MBD believe that there are sufficient grounds for optimism that quantity surveyors will be able to adapt to these challenges. However, to a high degree, the potential development of the market is likely to be determined by the strategies adopted by the large surveying companies in the face of an increased threat to their traditional position.

MBD anticipate moderate annual growth in quantity surveyor fees between 2005 and 2009, culminating in overall real growth of 9% between 2004 and 2009, taking the value of the sector to £1377.4 in 2009 (at 2004 prices).

NOTE TO EDITORS:

Market & Business Development Ltd specialises in business to business market research. The range of reports and industries in which we operate in constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.

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