According to Barbour ABI research, the number of units associated with residential contracts awarded increased by 2.4% from June to July and were 9.4% higher against 2016.

However, the number of building projects in July fell by 26.2% on June and were 9% lower on an annual basis.

“Taken together, this data shows the continued popularity of residential developments in the UK,” said Barbour.

Barbour ABI suggested £5.4bn of contracts were awarded in July, with the 14% by value awarded in London and another 14% in the South-East.

Half the projects were residential in July (47% of the total), with the Charter Square scheme in Staines the largest value contract of the month. The Packway in Wiltshire, a 444 unit development valued at £97m was awarded to Lovell partnerships.

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Private housing development dominated the residential builds this month at 73% with hostels or halls of residence accounting for 18% of the value awarded.

In terms of value, Barratt Homes agreed £2.1bn of residential contracts, followed by Persimmon Homes on £1.8bn and Taylor Wimpey at £1.58bn.