Nearly 18,000 jobs are set to be created in the Welsh construction industry over the next five years, according to figures released today.
The Construction Industry Training Board says the Welsh Government's help to buy scheme - plus proposed major infrastructure projects - are fuelling growth in the sector.
Ian Lang reports.
House building firm Redrow say they are looking forward to a more positive outlook as consumer confidence returns and the housing market emerges from a very challenging economic period.
The key to Wales' growth is to ensure that people have the right skills to deliver major projects, according to the Welsh Government.
Welsh Government investment coupled with the Help to Buy scheme, which is expected to boost demand for homes across Wales, are anticipated to help increase the strength of Wales's construction industry.
But while the research paints a generally positive outlook, the Construction Industry Training Board (CITB) says safeguards must be put in place to ensure that any growth is 'secure and sustained'.
Growth in Wales's construction industry is expected to be fuelled by the anticipated start of build work at the Wylfa nuclear power station in Anglesey.
It's thought infrastructure in Wales will be the chief driver of growth.
The private housing sector is set to be the second largest driver of growth in Wales, with key projects including the £1.2bn Coed Darcy development and the £75m regeneration works in Merthyr, Tydfil and Swansea expected to significantly boost employment and output prospects.
Nearly 18,000 new constrution industry jobs are expected to be created across Wales in the next five years.
Research released today by CITB Wales highlights forecast growth of 3.4% annually in the industry between now and 2018.
Owain Llywelyn, Welsh spokesperson for the Royal Institute of Chartered Surveyors told ITV Cymru that today's figures are 'pleasing' and it shows there is an increased confidence in the construction industry across the UK.
He added Wales is beginning to witness an upsurge in this sector and the house building specifically has helped drive the recovery.
VIDEO: Ifan Glyn from the Federation of Master Builders Cymru says that it welcomes the £10m fund but warns that it might not be enough.
A new £10million Property Development Fund that aims to support smaller scale property ventures in Wales will boost the construction industry says the Welsh Government.
It says the loans could create around £19m for the economy and lead to 900 new jobs.
Million of pounds are to be made available to small and medium size builders in Wales to boost the construction industry.
The Welsh Government says the Property Development Fund could safeguard around 700 jobs and could create up to 900 more.
Economy Minister Edwina Hart says the funding is being created in response to demand from companies that are unable to get loans due to the economic downturn.
The Federation of Master Builders Cymru, which represents around 500 businesses, welcomes the initiative but says more needs to be done.