Housebuilding set to increase for three years as prices keep rising

 
Tim Wallace
Follow Tim
CONSTRUCTION output will be driven by increased private housebuilding over the coming years, a top industry body said today.

The sector is responding to growing house prices with increased activity.

Housebuilding will grow by 10 per cent this year and 20.2 per cent by 2018, the Construction Products Association (CPA) forecasts.

That means private homes will lead the sector – overall construction will grow by 5.3 per cent in 2015.

“Construction output is forecast to surpass the pre-recession peak during the next 18 months,” said CPA economist Noble Francis.

“As a result, it is essential that there is significant investment in UK construction skills and manufacturing over the next few years if the growth forecast is to be achieved.”

Related articles