Supply 'not meeting demand' in new housing

24-Aug-2009

First-time buyers may be interested to learn that there is a high demand for new housing that is not being met.

This is according to the Federation of Master Builders (FMB), which has claimed recent government figures "mask" the real housing crisis.

Brian Berry, director of external affairs at the FMB, said while there is a 64 per cent and 24 per cent increase for starts and completions respectively, building figures still show a dip.

He emphasised the fact that there was a nine per cent drop in house building statistics, which will not meet the level of demand due to household formation and population increases.

Mr Berry said: " The government has a target of about 240,000 new homes a year and even with these current projections you're going to get about half of that going forward."

In other news that may be of interest to first-time buyers, figures from Communities and Local Government revealed there were 29,980 seasonally adjusted housing starts in England in the quarter preceding June this year.

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