Property Experts State More New Homes Needed

 

Director of external affairs at the Federation of Master Builders (FMB), Brian Berry, has stated his opinion that the number of new homes currently being built is falling short by 50% of the targets set as required by the past government.

Mr Berry added: "The prospects aren't looking good for the next year or so partly because of the cuts in government spending projects."

He also noted that first-time buyers are finding it "very difficult" to get onto the first rung of the housing ladder, since lenders now require such large deposits.

The FMB expert's comments follow the release of figures from Barratt Developments, which revealed total completions by the company, including joint ventures, were down from 13,277 in 2009 to 11,377 in 2010. Group chief executive Mark Clare commented that the outlook for the housing market remains challenging, but the priority will be to optimise prices and secure high quality land.

 

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