The CPA’s latest forecast says construction output is expected to rise by 3.4% in 2014 and by a further 5.2% in 2015, with housing starts projected to achieve growth rates of 16% this year and 10% in 2015.
But it says there were strong concerns whether housebuilding would continue to improve after 2015 – when the government’s Help to Buy stimulus ends.
Private housing repair, maintenance and improvement work is predicted to rise 3.5% in 2014 and then by 4% per year until 2017.
The CPA report also recorded growth in new infrastructure and a recovery in London commercial activity, to supplement the buoyant private housing sector.
The private commercial sector, contracted by 33.1% between 2008-2012, grew 2.3% in 2013 and is now predicted to expand by 2.7% this year.
