Val’s Views: Q4 Market Update 2018

​Introducing Val’s Views

As part of Adrem’s new feature we are introducing our office oracle “Val’s Views” to answer all your questions. Everything from what’s the fastest way to build your office confidence through to the state of the industry or what is worth seeing in London. No question is too small or large, just ask Val!

Val’s Views: Q4 Market Update 2018

As we count down on our advent calendar to the end of what was perhaps the fastest year we can remember, here is a summary of Val’s Views on one of our frequently asked questions about our insight on the market and what’s in the pipeline for 2019…

It is quite easy to watch the news and listen to the latest ‘chess playing’ on Brexit but in reality, no one including politicians really know what that means. What we do know is that as a nation, the UK has been working hard to not just stay active and relevant but domineer on a global scale – and that is certainly clear in the creative design, architecture and digital world. We have seen more UK firms working abroad on jobs in the EU, UAE and Asia than we have ever before. There are also a number of projects breaking into Africa and the US, which shows a worldwide appetite for UK design sensitivities, thought to be sophisticated and exportable. This ranges from banking in Berlin, to healthcare in Haiti, through to retail in Russia.

Furthermore, with the value of the pound currently quite low, there has been a stimulating interest in the UK by overseas investors, albeit with funds being released slightly slower. These foreign investors see the UK as the most diverse country in the world, with London considered to be the most cosmopolitan city. There has been also a rumble of commercial and hospitality jobs, as offices are also seeing investors continuing to invest. The GDP growth rate during Q3 of 2018 was 0.6% GDP per capita, which was on a par with South Korea and ahead of Canada from the G20. With that being the case at a time of relatively high nerves due to Brexit, the feeling from our clients thus far is that we can expect the country to settle into a calmer mentality once the Brexit deal is actually implemented.

On a more micro level we have seen the number of jobs and clients’ need for design talent persist, as the local market remains fluid. Clients are wanting commercially astute senior candidates who can demonstrate design and coordination discipline, as well as have a commercial acumen for handling client relationships. This is primarily the case in the architecture and design industry. More clients are also expressing shortages of skilled Revit candidates on the shop floor, so there is a great need for talented Part II Architects, who seem to be increasingly taking extended years between college and university, as well as there being a flurry of people taking sabbaticals.

All in all, the market in London is mature and we don’t feel there is any reason why businesses shouldn’t be striving towards exuding an underlying confidence. After all, isn’t that the purpose of design?

All that remains to be said is have a wonderful Christmas break and glorious New Year. See you in 2019!