Housing investment is forecast to overtake its 2006 peak of £68bn by 2017, a report from EY ITEM Club has predicted.
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.
