United Kingdom’s construction activity, notably, house prices and house building is rising at the fastest pace since July according to a poll of purchasing managers.
Figures from the UK’s biggest building society, Nationwide indicate that the house prices have raised 3.9% in the year to July – the highest amount since August 2010 with an average house in UK priced at £170,825.
The various measures and schemes from the Government have played a major role in the gradual gathering of momentum in the Housing market of UK. Chancellor George Osborne has unveiled ‘Help to Buy’ Scheme in March to help first-time property buyers and spur construction companies to build more homes. The collaboration of the Treasury and the Bank of England on the ‘Funding for Lending’ Scheme has provided a strong motivation for Banks. Under this scheme, the banks are offered cheap central bank cash if they lend more money to the UK’s businesses and households.
This is wonderful news for Architects who are interested studying in close-quarters the design and structure of the Construction Activity in the UK. And while you are there, you can even study the old albeit robust Royal Palaces of the nation which would be an invigorating experience in itself. So, excited to work in UK? You can contact us here.