For the fastest rate in nearly 11 years, the UK housebuilding grew in the month of July. According to a survey – The Markit UK Construction PMI report, home building grew at it’s fastest rate since November 2003, thanks to massive demand for new projects. Housebuilding is one part of the PMI index, which includes civil engineering and commercial building also.
A senior economist at Markit said;
“July’s figures suggest the UK construction sector is enjoying its strongest cyclical upswing since the global financial crisis, while a new record rise in employment highlights that construction firms are increasingly confident about the sustainability of the upturn,”
The report also says that activity in the construction sector has grown consecutively for 15 months, and also that hiring grew at it’s fastest rate since the survey began in April 1997.