Sales activity in the housing market has now reached levels last seen in 2020, says building trade magazine, PBC Today.

As a result, many of the biggest players in the construction industry such as Build Warranty are having to scale up to meet demand.

The Government’s pledge build 1.5 million new homes plus the number of first-time buyers now making up 36% of the market, is further pressuring the industry.

Adjusting expectations

The magazine says housebuilders have also been looking at the latest market data from indices such as Zoopla, which is reporting buyer demand surging 22% year-on-year, falling base rate and rising incomes, and are adjusting their expectations upwards.

Build Warranty provides new-build home warranties, which play a crucial role in the sector, and so is very much on the frontline of this process.

Sustained growth

PBC Today adds that “in addition to supporting individual homebuyers, industry insiders are urging policymakers to focus on sustained economic growth and policies that bolster housing supply, essential for meeting the nation’s demand for affordable homes”.