The UK and Ireland’s construction market is adjusting to a tighter pipeline, but underlying confidence and appetite for growth remain strong, according to the inaugural Construction Marketplace Health Index from Once For All. The report highlights how London and Middlesex dominate in terms of project value, despite growth in other regions.

The new, annual Construction Marketplace Health Index uses data from Once for All’s Marketplace (formerly Constructionline) and covers construction activity from the 2018–19 financial year through to 2024-25. Each year, the platform tracks over 10,000 projects and
contract opportunities, collectively worth over £219bn in 2025.

Within this national picture, London and Middlesex remain the UK’s dominant construction market. Since 2018-19, the region has recorded £134.6bn in construction project value across 8,188 projects, placing it well ahead of any other region. The scale of activity also reflects the increasing concentration of capital into fewer, higher-value schemes.

Capital concentration is most evident in new build activity. Over the seven-year period, new builds accounted for more than £360bn in value, representing 74% of total construction value and 48% of all construction projects.

In the last two financial years, high-value projects – like new builds – have seen increased average values (+16.75%), while mid and lower-value projects have seen sharp declines. This includes extension projects (-29.29%) and a slight drop for alteration and conversion works (-0.66%). As such, it appears capital is being reserved for fewer, larger and more complex projects.

Several core categories continue to sustain the market. Housing remains the financial backbone of construction across the UK and Ireland, contributing £177.3bn in value across 13,666 projects. However, the two most recent financial years show a significant growth in average value across energy (+80.36%), industrial (+88.88%), and air transport (+87.80%), demonstrating where the opportunities are emerging for specialist subcontractors.

Alongside the market data, the report highlights continued optimism among subcontractors, despite the recent slowdown. A survey of 134 UK subcontractors found that 63% remain optimistic or very optimistic about the year ahead, even as total project value and volume fell to a seven-year low in 2024–25. However, the findings also show that visibility remains the biggest barrier to winning work, cited by 34% of respondents. In response, digital tools are emerging as a key adaptation strategy, with 28% of subcontractors using technology platforms to access opportunities and increase efficiency.

The report concludes that as high-value opportunities move towards fewer, larger projects, businesses must carefully decide which regions, projects and categories are truly worth committing their time and energy to in a more selective construction market.

Andy Preston, Head of Marketplace at Once For All, said: “What the data shows in the London and Middlesex construction market is not a lack of ambition or confidence, but a market that is becoming more selective. Fewer projects are coming forward, yet the scale and complexity of the work being funded remains high. Understanding where capital is really flowing across the region is essential for planning and resilience.”

Andrew Spencer, Group Supply Chain and Procurement Director at Galliford Try, added: “There is still a significant pipeline of work in the UK, but getting schemes started and funded is increasingly complex. Long-term visibility and strong alignment across the supply chain are critical if we are to deliver high-quality outcomes and support resilient growth.”