It will take some time before the house building industry can improve, according to the Federation of Master Builders (FMB).

Brian Berry, director of external affairs at the FMB, explained that it would be highly likely that any sign of improvement would be more visible in the second half of the year.

"We are not very optimistic – and that depends on the government sticking to the original proposals," he said.

"With planning proposals, it is not going to be until March when the government is going to respond initially [to the National Planning Policy Framework] and even if it responds positively it will still take months to actually feed through into the economy.

Mr Berry added that the economic situation meant there was a lack of confidence in the housing market, making it especially hard for first-time buyers to get their foot on the property ladder.

Mortgage availability, for example, is still hampered by large deposits, he concluded.

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