Good news for home owners, building companies and of course the UK economy as August saw British construction activity grow the fastest for six years. This was predominately driven by residential building showing positive signs that the UK economy is recovering. There are however still reservations that Great Britain could be heading towards another housing bubble that is be stimulated by the UK government. Analysts are concerned that if there is no real growth in housing construction, then the governments help such as the recent loan scheme to help new buyers access the housing market will only push up house prices. Despite concerns, the latest construction PMI figures show that the UK economy has performed well over summer. Between January and March Construction was the biggest drag on Britain’s but has since shown growth from April to June.
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