According to GlobalData, the UK’s construction industry is expected to contract by -2.5% in 2020.
Oliver said that downtime in the industry could prove to be an excellent opportunity for it to fully embrace the new technology, collaborative tools and skills that embody building information modelling (BIM).
- DFT Roundtable: How rising costs, coronavirus and a labour shortage could stall property developments in 2020
- Meyer Homes introduces virtual tour software for buyers
- Property industry welcomes 'the biggest change in building safety for a generation'
“Instead of seeing this time as a period to scale-down and streamline the workforce, those construction companies that can, should invest in the digital skills required to succeed in construction’s digital future,” added Oliver.
He added that building regulations will get more stringent and would force firms to embrace technology and techniques that improve building efficiency and safety.
“Building regulations have lacked transparency for a while, but in the wake of 2018’s Hackitt Review, changes will come.”