Mortgage & Property Advice Centre for First Time Home Buyers

Slowing construction rate could be slowing supply of houses for FTBs

08-Feb-2010

Builders started work on the lowest number of new houses in the 2008-2009 financial year since records began in 1990-1991, which could be strangling the supply of houses in the UK and forcing would-be first-time buyers (FTBs) to miss out on securing a home.

The 90,320 properties started in the year was significantly down from the 156,440 constructed in 2007-2008, figures from the Department for Communities and Local Government show.

FTBs seeking a way on to the first rung of the property ladder may find the decreasing rate at which new homes are built has an adverse effect on their attempt.

Many could be forced to rent a home - with statistics by the department revealing the number of new buildings started by registered landlords rose from 15,810 in 2007-2008 to 18,850 a year later.

The lack of construction work being carried out could be just one in a list of worries for FTBs, with house prices - which rose by 0.6 per cent in January - likely to be another.

How to buy a house from finding your first property, first time buyer mortgages, mortgage advice, shared equity, shared ownership, joint ownership, part buy part rent and HomeBuy. All a first time buyer could need as well as first time buyer news at FirstRungNow.com.

Shared mortgages could be popular as lending cutbacks continue
Rising house prices may be making it tough for FTBs
Doubling of house prices 'makes life more difficult for FTBs'

Article Options:

Email this article to a friend

Get updates from our RSS Feed

Post this article to:

del.icio.us

Digg

Reddit

2010: Jul | Jun | May | Apr | Mar | Feb | Jan

2009: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2008: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar


Free e-Bulletin

News and Offers for First Time Buyers

Register

Is owning your own home still the be-all and end-a

Is it better to own your home rather than to rent?

yes
no

Is buying your first home more about making money than investing in your long term future?

yes
no

Do you worry about buying your first home and its value dropping?

yes
no

Could the government do more to help first time buyers?

yes
no

Do you think you are doing everything you can to get a decent deposit together?

yes
no, I could do more

Is it likely when you come to buy, that your parents will be helping you with the deposit or your mortgage?

yes
no, not at all