The deal thrashed out between the Federation of Master Builders and Unite will see a 2.5% rise from June 30 2014 and a further 3% from June 2015.

Annual holiday entitlement will also increase by one day fromJune 2015 from to 22 days, making a total of 30 days including public holidays.

Young adult operatives and all apprentices and trainees will benefit from a 3% rise in hourly wages as of 30th June 2014, followed by a further 3% rise in June 2015.

Brian Berry, Chief Executive of the FMB, said: “This deal reflects the cautious optimism and the desire for long term stability now present in the industry.

“The construction sector is finally seeing consistent growth for the first time in five years. Yet, this growth is from a very low base and remains relatively constrained for many of our members.

“Our members are now looking to the future with expectations of growing workloads.

“Therefore, it is right that, after some difficult years, this agreement recognises this with a significant pay increase for hard-working employees.

“The two year nature of the deal will provide certainty and reassurance for employers and employees alike.”