The number of new homes registered by UK housebuilders and developers with the NHBC in the first three months of 2019 rose 3% year-on-year to 37,672.

Noting that both registration and construction activity at the beginning of 2018 had been hit by the Beast from the East bout of bad weather, NHBC chief executive Steve Wood said the numbers were still “good for the start of the year”.

“Although Brexit uncertainties are impacting consumer confidence ands causing some dampening of new-build and second-hand sale markets, housing remains an attractive asset class for inward investors, which does cause us to be more optimistic about build-to-rent,” he added.