House prices rose by a record 10 per cent last month, according to the latest dataThe construction sector expanded at its fastest pace in nearly seven years in May as the lifting of lockdown restrictions caused a surge in new orders, a closely watched survey suggests. The IHS Markit/CIPS construction purchasing managers’ index rose from 61.6 to 64.2, its highest level since September 2014 and above economists’ forecasts of 62.3. SponsoredGrowth was driven by the housebuilders as orders continued to rise on the back of a boom in the housing market. The latest official data suggests that house prices rose by a record 10 per cent last month. This was followed by an increase in commercial work, which expanded at its steepest pace since August 2007,“UK construction companies reported another month of rapid

Source: The Times June 04, 2021 11:03 UTC