Joe Sullivan, Partner at MHA, comments on today's S&P Global UK Construction PMI data:

"The latest PMI shows construction that activity has picked up since August but optimism is low. Activity continues to be held back by affordability pressures, delayed investment decisions and uncertainty over when major projects will actually move from planning to procurement and onto site.

"Housing remains the clearest pressure point. Demand is still there, but high mortgage costs and the ever increasing likelihood of elevated interest rates mean buyers remain cautious.

"A revived Help to Buy-style scheme could help lift confidence by easing deposit barriers for first-time buyers. Stronger demand for new-build homes would support housebuilders, supply chains and the wider economy, but demand alone will not fix the market.

"The real issue is supply. Without faster progress on planning reform, infrastructure delivery and stalled development sites, policies designed to boost demand risk pushing up prices rather than increasing the number of homes being built.

"Infrastructure faces the same delivery gap. The pipeline looks strong, but too many schemes remain stuck between announcement and action. Contractors and investors need clearer procurement timetables, firmer funding commitments and realistic start dates if they are to plan with confidence.

"Devolution could help by giving local leaders more control over housing, transport and regeneration. But it will only make a difference if new powers are matched by long-term funding certainty and clear borrowing rules."