The construction value of new commissions for architects fell substantially again in the second quarter of 2011. Following a 15 percent drop in the first quarter, the decrease in the second quarter was over 14 percent. The fall in the second quarter concerned mainly commissions for the construction of new homes. There was still a slight rise in commissions for non-residential buildings.
Substantial fall in commissions for new homes
The value of commissions for the construction of new homes fell by no less than 31 percent in the second quarter of this year compared with the same period last year. In the first quarter the value rose slightly, by 3 percent. In spite of the fact that a lot of office space remains unoccupied, architects managed to realise 2.4 percent growth on the non-residential market.
Construction value of architects’ commissions
Rise in orders for renovation and restoration
In spite of the hefty decrease in the value of orders, there were some bright spots. Commissions for renovation and restoration projects rose, for example. The value of these orders on the residential market rose by 7.5 percent in the second quarter, while the value of commissions for renovation and restoration of non-residential buildings grew by 8 percent.