Latest Property Values NewsIn a statement on Friday, The Home Builders Federation said the Government must make good on its pre-election pledge to build more homes. At the moment, the country has a housing shortage just short of 1 million homes with 5 million people on local authority waiting lists. Executive Chairman of the federation, Steward Baseley stated: "Such a framework must include, as a matter of urgency, steps to tackle the lack of mortgage availability, particularly for first-time buyers, and increase the supply of viable developable land, both of which are currently constraining housing supply. It must also find a way of reducing to realistic levels the regulatory costs that have rocketed over the past decade. "It must not include any proposals to introduce VAT on new homes, a pre-election idea floated by the Lib Dems and subsequently dismissed by the Conservatives, which would be a significant step backwards and would penalise first-time buyers and result in even fewer homes being built."
All new homes will have to meet increased energy efficiency and green standards which with the new Government could become even more strict. If promises to build more housing are kept this could provide a big boost to businesses supplying green building materials and home improvements such as the double glazing industry.
Author: Thomas Davies
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