This is based on encouraging data to the end of January with the construction data provider anticipating project starts to grow by a further 15% in 2026.

Here, the data specifically refers to projects with a value less than £100m.

Glenigan has amended these forecasts due to the prospect of rising real wages and lower mortgage costs, which have led to a recent upturn in construction activity.

•   The Finance Professional Show 2024: The Video
•   Housebuilders ramp up plans ahead of government housing push
•   Housing starts surge 31% and Glenigan predicts 2025 'revival'

In the three months to the end of January, the Glenigan index shows private housing starts rose by 31% from the previous quarter.

This activity is up 26% from the same period a year earlier.

In its update, Glenigan also highlighted housebuilder-specific data that supported its forecasts.

In the five weeks to the start of February, Barratt Redrow private homes orderbook rose by 11.2% from the same period in 2024 to 6,126 units.

Elsewhere, a recent trading update from Bellway was referred to where the firm revealed its forward order book stood at 4,726 homes which was up from 3,970 a year earlier.