This is according to the Glenigan index of construction which found the value of overall project starts was 2% higher over this period.

However, this data was down from the same quarter in 2023. This activity at the end of 2024 was 3% lower — both overall and specifically on a residential basis - from the end of 2023.

Within the residential sector, private housing was the healthiest sub-sector.

The value of construction starts in private housing was 9% higher in the fourth quarter from the preceding three months, and 1% higher than 2023 levels.

In contrast, social housing construction performed poorly on both counts - falling 1% and 17%, respectively.

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Commenting on the data, Glenigan economic director Allan Wilen said seasonal factors affected working commencing on-site during this period.

“However, after adjusting for the Christmas wind-down, starts managed to edge slightly higher during these three months,” said Allan. “This was partly driven by a 9% rise in private housing projects, indicating that developers may be entering the New Year with renewed confidence.

“The government’s Spring Spending Review is hotly anticipated, and many are waiting on updates for a number of major projects name-checked in the Autumn Budget Statement, as part of a wider package promised to kick-start construction activity.”