Following uncertainty around Brexit, the housing market has received a boost from the Government after Chancellor Philip Hammond revealed a £5 billion fund to support house building.

The Chancellor said the cash would allow builders “to build more houses, more quickly, in the places people want to live”.

The move follows comments from Lord Turnbull, former head of the civil service, who highlighted the need for at least 200,000 new homes a year just to keep pace with housing needs.

Jade Greenhow, Operations Manager at Insight Data, who provide business data for the construction industry, welcomed the news;

“After a nervous few months following the referendum, many building product suppliers have stepped up their sales and marketing activity to win market share from competitors. The latest news from Chancellor Hammond and Sajid Javid, the Communities Minister, is great news for the housing market and those in the supply chain. We welcome this new initiative.”

Under the plans, the Government will provide a £3 billion fund to help small family firms build more homes and a separate £2billion loan fund will pay for further new homes by 2020 on surplus public sector land. The cash will be used to encourage builders to use more modern building techniques which can deliver homes twice as quickly as conventional builders.

Jade added; “with renewed drive in the housing market it’s important suppliers have the latest market intelligence and know exactly who their target customers are – from large house-builders to the smaller family building firms.”

Insight Data provides detailed information on house-builders, main contractors and smaller building firms across the UK, with full contact details of decision makers. The full construction database contains over 30,900 named contacts and is available in real-time, using Insight Data’s online software platform, Salestracker.

For further information, contact Insight Data on 01934 808293 or visit www.insightdata.co.uk