Blane Perrotton, managing director of the national property consultancy and surveyors Naismiths, commented:
“The arrival of British Summer Time has barely registered in Britain’s construction sector, which feels like it’s entering an Ice Age rather than summer.
“Two consecutive falls in construction activity complete what has been a miserable first quarter to the year. Business optimism ticked up a touch from the rock bottom level seen in February, but it remains well below par.
“With the UK now only days away from a cliff edge, ‘no deal’ Brexit, developers’ nerves are becoming increasingly shredded. New investment is slowing to a trickle, especially in the commercial property sector, which has seen activity slide to its lowest level since last March’s deep-frozen inertia.
“While the residential sector is stoically grinding on, the industry as a whole is running to stand still. With investor confidence clamped in a vice-like grip by Brexit uncertainty, the number of new orders is weak, and what work there is dominated by the completion of existing projects.
“Britain’s army of smaller residential developers provides one of the few bright spots. Fuelled by lenders who are still keen to offer finance, the smaller scale players have no choice but to keep building, even if their margins are being squeezed.
“By contrast the larger housebuilders, armed with deeper cash reserves, can afford to hold off to wait out the storm. But with Brexit uncertainty set to peak in the next few weeks, for now no-one expects them to do anything other than batten down the hatches.”