ONS also revealed that private sector investment in new dwellings at the end of Q4 2014 was the highest since 2008 standing at £7.7bn.

Major repairs and improvements to dwellings at the end of Q4 2014 did fall from £7.83bn to £7.81bn but overall investment was at its highest since 2008 at £15.57bn as it rose for the ninth consecutive quarter in a row. 

However, the figures also revealed that investment in dwellings by public corporations fell by 19.5% which was a reduction of £162m from Q4 2014 - the biggest decrease in the sector since Q3 1999. 

It raises the question again whether the public sector is doing enough to invest in housing compared with the private sector, considering the current housing crisis. 

Last month it was revealed public sector housing registrations amounted to only 9,590 compared with the 30,691 by the private sector. 

When asked whether the government should be doing more to tackle the housing crisis industry experts agreed that more was required from the public sector.

The government however was quick to point out that housebuilding was up on previous figures with Housing Minister Brandon Lewis saying the industry was “turning around”.

At the time, Brian Berry, Chief Executive of the Federation of Master Builders, said: “If we’re to sufficiently increase house building, we can’t rely on large house builders alone – we need to remove barriers to small local builders and make sure they’re well placed to do their bit.

“The major focus for us over the coming years will be to work with government on improving access to finance for small firms and ensure more small sites are made available for small housing developments.”

While Henry Gregg, Assistant Director of Campaigns at the National Housing Federation explained the country needed urgent action to get more housing of all types built.  

“Families and young people across the country are crying out for genuinely affordable homes they can rent long term and shared ownership homes to help them on the housing ladder,” said Henry.

“Housing associations are building, but they need a bold government to play its part too and lead the way for new homes.

“Our new Government has committed to end the housing crisis within a generation, now it must free up land and provide proper investment to make that happen.”