The UK construction sector is experiencing bounce back currently signaling recovery from the temporary slowdown it was going through during the past few months. With the general election now in the background, the entire UK housing market should see higher amounts of activity. Many considering their options during the slowdown will make their decisions now with a better idea of where the market is heading.

Output within the UK construction sector increased during the month of March by almost 4% compared with the month prior. Annual growth, according to the Office for National Statistics, was estimated at slightly less than 2%.

Housebuilding has turned around. Activity of private companies increased by more than 2% month on month leading up to March. This helped raise the annual rate of expansion in private housing to more than 11%

Howard Archer of IHS Global Insight commented on the data which has recently surfaced, saying: "Given that the construction sector only accounts for 6.4pc of GDP, this upward revision will only add 0.03 percentage point to GDP growth in the first quarter. However, industrial production in the first quarter has also been revised up, from contraction of 0.1pc quarter-on-quarter to growth of 0.1pc which will also add 0.03 percentage point to first quarter growth as industrial production accounts for 14.6pc of GDP.”

Archer continued: "Consequently, there now looks to be a very good chance that GDP growth in the first quarter will be revised up to 0.4pc quarter-on-quarter from 0.3pc when the next estimate comes out this month."