The value of new housebuilding work has soared, according to research
Economics unit Glenigan gave an index reading of 140 to residential starts on site in April 2016. Its data excludes very large and very small projects.
The reading was up from 110 in the same month a year earlier, representing the sharpest year-on-year rise since October 2015.
The overall construction industry index was up from 102 last April to 125 in the same month this year.
Activity could continue to rise through the second half of this year, according to Glenigan.
Economics director Allan Wilén said: ’The development pipelines for private housing, industrial and office projects are particularly strong.
’Near term we anticipate that investor nerves may dampen the current upturn in project starts ahead of June’s EU referendum. Nevertheless we anticipate that there will be a rise in projects going out to tender over the coming months as clients line up work to start in the second half of the year.
’While the impending vote may dampen project starts in the near term, the second half of 2016 could see a sharp rise in activity as private investors press ahead with projects once the issue of EU membership has been resolved.’