Subcontractors across the UK and Ireland remain optimistic about the year ahead despite a tightening construction pipeline, according to a new annual report from Once For All, the business behind Constructionline.
The inaugural Construction Marketplace Health Index draws on data from Once For All’s Marketplace platform (formerly Constructionline) covering construction activity from the 2018–19 financial year through to 2024–25.
Once For All said its Marketplace tracks more than 10,000 projects and contract opportunities each year, with opportunities collectively valued at more than £219bn in 2025.
The index reports that total project value and volume fell to a seven-year low in 2024–25. However, a survey of 134 subcontractors found 63% described themselves as optimistic or very optimistic about the year ahead.
Fewer than one in five respondents said work was simply not available, pointing to continued confidence in parts of the supply chain even as competition increases.
New builds dominate as capital concentrates
The report suggests investment has been concentrating in new build activity. Over the seven-year period, new build projects accounted for more than £360bn, representing 74% of total construction value and 48% of all construction projects, the index said.
In the last two financial years, the average value of high-value projects increased by 16.75%, while mid and lower-value work fell back, including extensions down 29.29% and alterations/conversions down 0.66%. The index argues this points to capital being reserved for fewer, larger and more complex schemes.
Housing remained the largest single contributor by value, at £177.3bn across 13,666 projects, according to the index.
It also points to rising average project values in sectors including energy (+80.36%), industrial (+88.88%) and air transport (+87.80%) over the two most recent financial years, suggesting potential areas of opportunity for specialist subcontractors.
“Visibility” named top barrier to winning work
The report identifies “visibility” as the biggest obstacle to securing work. 34% of subcontractors surveyed said being noticed by the right contractors was their main challenge.
Once For All said digital tools are emerging as a response, with 28% of subcontractors reporting they are using technology platforms to access opportunities and improve efficiency.
Andy Preston, Head of Marketplace at Once For All, said: “What comes through clearly in the data is that subcontractor confidence has not disappeared, but the construction market around them has changed.”
Jonah Butterworth, Company Director at Lifetime Electrical Services, said: “The work is still there, but finding it and speaking to the right people is often the hardest part.”
The index concludes that, as high-value opportunities shift towards fewer, larger projects, subcontractors may need to be more selective about which projects, regions and sectors are worth pursuing.
