But the Homes by Skanska business has suffered two years of losses and had just three schemes on its books, two in Cambridge and land in Bath.

There first signs of a reversal in thinking emerged last April when Skanksa UK took the standalone business under direct control.

A spokeswoman said: “The business views that there are other markets in the UK that will provide the level of return that Skanska’s shareholders want to see from its investment capital.

“These include infrastructure development, commercial development, and the increasingly positive construction sector.

“Skanska will complete its development at Seven Acres in Cambridge, but has no plans to break ground on any further developments of its own for the foreseeable future.”

She added: “Skanska is committed to and will continue to provide full customer service to its buyers at Seven Acres.

“Skanska is not leaving the residential market. It will continue to use its residential expertise in mixed-use and prime residential developments, working with a range of private and public sector clients and partners.

The company anticipates that four jobs within the 25-strong house building team will be at risk.