While this year is forecast to decline significantly off the back of a 20 per cent rise in 2012, next year is set to be stronger for the principality.
The level of starts in Wales has been relatively volatile during the downturn.
Source: Glenigan (f) = forecast
While a number of regions are clearly benefiting from the resurgence in private housing, Wales has seen less growth in this sector. The main reason is the absence of a shared equity scheme such as Help to Buy at present.
Private housing approvals have grown, but they are not at the same scale as the larger developments in the southern regions of England.
Utilities projects remain a driver for Wales’ pipeline over the next two years, reflected in the fact that if Glenigan accounted for schemes valued at £100m or more, the value of projects starts would increase by 60.3 per cent next year.