There was a 40% increase in construction project commencements in the first 8 months of this year compared to the same period of last year, according to the group Link2Plans.
Planning applications were up 12%.
The group compiles the data using real time planning and project information from each of the local authority areas.
Danny O'Shea, Managing Director of Link2Plans, said this index was the first in the three years that they have been compiling it to show positives in commencements and planning applications in all three categories measured.
The categories they examine are residential development, one-off housing and domestic extensions that require planning permission.
"The upward trend in planning applications that started in the first three months shows no signs of slowing down. It's evidence of a degree of confidence returning to the construction sector," he said.
Danny O'Shea pointed out that there was a distortion in the project commencement figures in that most of the gains were frontloaded towards the first quarter of the year.
"There was a rush to get projects lodged before the March 1st deadline when new building regulations came into play. 70% of all commencements were lodged in the first months of the year," he said.
However, he emphasised that the outcome in commencements for the rest of the year was still quite healthy pointing to a return to a more sustainable level of housing construction activity.
"In 2011, residential developments accounted for just 1.6% of construction projects. That's now up to 6%," he said.
"This is the predicted upturn that's required to make up the shortfall."
***
Asian markets bounced back overnight following the lead from the US, where markets staged an impressive comeback late on Friday.
That in response to some good economic data state side.
However, the volatility seen in the last week or so may not be over yet.
Chinese GDP figures are due out in the coming days.
The government there has been pencilling in third quarter growth of 7.7% but it's expected that it may come in as low as 7.2% which could send markets back into a tailspin.
***
It's also third quarter earnings season in the US with some big names reporting this week.
Apple will outline its performance for the three months period from July to end-September tonight.
It's expected to report a fairly decent outcome with analysts looking at a 12% increase in iPhone sales but an 8% fall in iPad sales.
The outlook for the all-important holiday season is expected to be good.
It's also anticipated that it will launch the Apple e-payments system in the US, with partners including Chase and Citibank.
***
The Wall Street Journal has been reporting that a consortium of investors from Hong Kong and Abu Dhabi are lining up to buy sports goods maker, Reebok, from Adidas.
It's reported that they will offer in excess of $2bn for the company which Adidas acquired 8 years ago for £3.8bn.
Jynwel Capital and its partners argue that Reebok would fare better as an independent company.
***
IBM has said it will make a "major business announcement" today.
It's expected that the multinational IT company will announce that it's to offload its loss-making microchip-making business.
The Wall Street Journal is reporting that IBM will pay Globalfoundries $1.5bn to take the chip operations off its hands.
