“A new dawn is breaking in construction."
"The industry recorded the fastest pace of growth since 2007 in August, leaving the dark days of recession behind,” according to David Noble CIPS CEO.
He added, “Robust expansion can be seen in all three sub – sectors; house building is rising at a rate not seen since mid 2010; commercial growth is also strong; but it is the strongest growth in six years recorded in civil engineering that is a real cause for optimism and a sure sign the sector has overcome its previous difficulties.”
Given the earlier concerns raised by the Adam Smith Institute re “Help to Buy” and a housing bubble, and the concerns in the construction industry regarding their skills and training gap, and it is clear to see why the “help to buy” scheme is currently the source of such controversy.
At the recent Conservative Party conference, David Cameron felt the need to defend the policy. Commenting on Radio 4 he stressed his view that the scheme was needed because of a failure of the banking market, not the housing market and that, “It was a different situation during the market boom of the last decade because it (the scheme) allowed neither mortgages of more than 95% nor self-certified mortgages.”
The construction sector Markit/CIPS Purchasing Managers’ Index (PMI) was published in September 2013.