There have been 5,500 construction insolvencies in the past two years, according to figures collated by accountancy firm PwC.
There was a 5% fall from 658 to 625 in the first quarter of 2013, compared to Q4 2012. London remains the region with the highest number – at 103 – and over the past two years has seen 977 insolvency cases overall.
Of the 5,500 overall construction insolvencies since April 2011, 1488 involved general construction/civil engineering firms and 378 involved architectural firms.
PwC engineering & construction leader Jonathan Hook said: ''Any reduction in the number of insolvencies in the construction sector is welcome. The sector in the UK is still experiencing declining output year on year however, so we are not necessarily over the worst yet in terms of insolvencies. There is an ongoing cash squeeze throughout the supply chain as has been evidenced in recent reported results.
"The measures in the recent budget to support infrastructure, and in particular levels of house-building are welcome but will take a little while to feed through into output.''
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