Funding the pre-packed homes’ construction will help the Government meet its target of providing one million new homes by 2020, according to The Sunday Telegraph.
Earlier this month the Government set out details to tackle the housing shortage by building 25,000 new homes using a £3bn Home Building Fund.
The Communities Department hopes the measures will lead to 100,000 off-site manufactured home being built over this parliament.
Ministers have reportedly been impressed with construction speeds of the latest prefabs, with some erected on site in just 48 hours.
This is good news for manufacturers of Modular components such as External wall insulation and brick slip cladding, cold-rolled steel for modular buildings, insulated panels for roof application and wall & steel floor-decking.
Gavin Barwell, the housing minister, said: “Offsite construction could provide a huge opportunity to increase housing supply and we want to see more innovation like this emulated across the house building sector.”