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MORE JOBS WILL STRAIN SOUTH WEST’S RESOURCES, SAYS KING STURGE EXPERT

South West schools, hospitals, roads, and public transport will face enormous strain to cope with 250,000 extra jobs being predicted for the region, according to a national property expert.

Dr Angus McIntosh, national head of research at King Sturge, the South West‘s largest firm of international property consultants, has forecast severe pressure on infrastructure and land sites to accommodate employment growth in such sectors as hotels, financial services, and the public sector.

Addressing the firm‘s annual media briefing, Dr McIntosh pointed to predictions that, by 2015, the South West‘s workforce will grow by 252,000 to almost three million (2.927 million).

“Although we are likely to see the loss of about 25,000 manufacturing jobs in this region by 2015, that figure will be dwarfed by increases of 55,000 jobs in the region‘s catering and hotels industry, 64,000 extra jobs in finance and banking, and 59,000 more jobs in the public sector.

“At a time when the South West also now has targets to build 28,000 new homes every year, the combined demands of all those new homes and extra workspace sites will create enormous strain on the region‘s infrastructure, including schools, hospitals, roads, and public transport – and on the very limited supply of sites in the South West where those homes and workspace developments can be built”, Dr McIntosh warned.

He also predicted that the South West‘s economy will grow by 2 per cent this year, rising to 2.5 per cent in 2009, compared to a UK national growth of 1.8 per cent in 2008 and 2.4 per cent in 2009.

“This growth will be achieved against the backcloth of the ‘three crunches‘ now confronting the property industry. The credit crunch is restricting access to funding, the tax crunch of new levies on empty rates will slow down new developments, and the climate crunch now demands Energy Performance Certificates (EPCs) for commercial buildings”, said Dr McIntosh. 

ENDS             10th April 2008

For further information please contact Neil Fraser, Sturgess Van Damme, on 01275 349011 or email neil@sturgessvandamme.co.uk

Notes to editors

King Sturge is one of the largest international property consultancies in Europe (52 offices in 17 countries), with a comprehensive network of over 165 wholly owned and associated offices throughout the world.  Over 3,800 staff throughout these offices cover all property sectors and specialisms, including plant and machinery.  In Europe, King Sturge operates in principal mainland European cities.

In Asia Pacific, King Sturge has associations in Australia, Indonesia, Malaysia, New Zealand and Singapore.

In North America, King Sturge has business partners in the Americas and Canada through King Sturge CORFAC International.