Recent industry research has indicated that the UK housing industry is on track for a 10-year high. According to Britain’s National House-Building Council, builders registered that they planned to build 37,936 homes in the third quarter of 2017. A 9% increase on the same period last year and the highest third-quarter total since 2007.

Additionally, 7 out of the 12 UK regions experienced growth in registrations compared to the same period during the previous year. Scotland saw the biggest increase with 50%, followed by East Midlands with 42% and North East with 34%.

It’s great that investment is coming for brand new homes. Demand for houses has never been higher and it’s a positive prospect for both potential buyers and the construction industry as a whole. More houses being built means more construction projects as a whole which is a huge positive for the industry. Whilst more schemes to get people on the property ladder, such as Help To Buy and the Lifetime ISA, have been implemented by the Government to help people

In London, Mayor Sadiq Khan has set his own target of 66,000 new homes to be built each year – more than double what is currently being built. He also called for a massive increase in government funding for house building and infrastructure.

This added reassurance comes during uncertain times for the construction industry. Not only did the UK’s economy suffer a weak first half of the year, partly due to consumer spending being curtailed through higher inflation, but concerns over the outcome of Brexit has meant businesses have been pretty cautious with regards to investment. However, the data from NHBC indicates the construction industry may be heading for an upswing.

As the NHCB report highlighted: “With demand for high quality new homes as strong as ever, this is positive news for the industry and prospective homebuyers, particularly in light of the current political and economic uncertainties.”

The Royal Institution of Chartered Surveyors’ quarterly survey has also showed that demand for commercial properties has picked up slightly over the past 12 months, from both tenants and investors.