EY predicted growth in housing investment, including building new homes and renovating and extending existing homes, of 6.8% this year and 10.1% in 2015.

These predictions are supported by new recent orders for housing which were up 41% in the year to quarter three 2013.

The report said that a recovering mortgage market and the government’s Help to Buy Schemes were helping to strengthen the housing market.

Last month housebuilders Barratt Developments attributed a quarter of its completions to the Help to Buy Scheme. 

It said 29% of its 6,195 completions were a direct result of the scheme.

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