UK house building soars in another good month for the construction industry
April has seen a steep increase in total construction activity with housing activity growth close to a ten year high.
Chris Temple, engineering and construction UK partner, PwC, said: “House building continues to shine in the UK construction industry, although all three categories are experiencing robust growth thanks to better economic conditions, improved access to finance and greater investment spending. The rate of expansion seen in residential construction in April is one of the fastest over the past ten years, delivering at least 45,000 new housing starts per quarter. This is leading the UK back towards the long run of average annual housing starts.
“Another month of increased employment in the sector is set against the context of a steep drop in the availability of sub-contractors. Along with supply chain issues, this will set a particular challenge for the house building sector to continue to meet demand, resulting in continued cost pressures.”