Help to Buy scheme giving construction sector a boost
The Government’s Help to Buy scheme has given a boost to business in the construction sector, according to housing minister Kris Hopkins.
The minister made the comment whilst visiting the new Chesterton brick factory in Newcastle-under-Lyne.
After several slow years, the brick industry is increasing production and is planning to stay open over the Christmas period in order to keep up with demand.
Deliveries of new bricks in July were up 12% on the previous year, this is despite of production slowing at the beginning of the year due to the prolonged cold weather.
Brick production this year is expected to be around 1.73bn bricks – enough to go nine times round the world.
Brick production is a good barometer for the housing market and British economy as a whole, with eight out of ten bricks manufactured in the UK used for housebuilding.
“Help to Buy has not only helped thousands of hard working families get on the housing ladder, it’s also laid the foundations for a recovery in housebuilding and confounded the critics who claimed it would have no impact on the supply of new homes,” said Hopkins.
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