"For decades, there have not been enough homes to meet the needs of our growing and ageing population. From 2009 to 2010, only 115,000 new-builds were completed in England – fewer than any year in peace time since the 1920s and nearly a quarter of a million homes in England have stood empty for more than 6 months."
The statement continues by summarising "the government's priority has been to rectify a situation where lenders couldn't lend, so builders couldn't build and buyers couldn't buy". However, apparently, that is all set to change!
The proposed "rectifying" actions include:
- removing complex building regulations
- providing finance for those in-need
- support for those who cannot currently afford the deposit
And so, the question is, will we soon see Britain Building a future for our property development/ construction industry and for those who need help getting onto the property market in the first place? After all, 2011's strategy entitled "Laying the Foundations" which dictated that it would ""get the housing market moving again" had questionable success. In 2013 the number of houses actually built in the UK fell 9% compared to 2012. The Guardian's report stated that council house building collapsed from 185,000 units to less than 1,000 a year across most of the previous decade. [source]
Yet at Dawson & Associates we remain optimistic for a property market that has, without doubt, experienced some significant bubbles of interest over recent years. After all, we did previously dub 2014, "the year of improvement" [see blog: UK PROPERTY PRICES and trends 2014-2014] and this is a trend that we envisage continuing with the vigour or a newly reinstated government and market confidence.
Currently new house completion is up 10%. 4000 more homes were built between January and March of 2015 than the previous year. Whilst cynics are quick to remark that this isn't sufficient to meet requirements, Dawson's believe that we should applaud, at least a little, the positivity. After all, this is the highest number within the financial year for 6 years!
Housing minister, Brandon Lewis, says "Housebuilding is at the heart of our plan to ensure the recovery reaches all parts of our country. We're turning around an industry that was devastated and getting the country building again."
Good news, as much of the property updates often focus on London alone.
Of course, building a property is a lot more than just bricks and mortar. Thorough, efficient and effective planning is required whether it is the government, the local authorities or the individual investor who is concerned. Dawson & Associates strongly advises any first-time or experienced buyer to still consult a property professional before taking advantage of this currently complex property market. It goes without saying that the basics, such as a building survey, always be instructed. But in addition, there are considerations such as planning applications, refurbishment intentions, maintenance works and valuations. We provide a full range of property services and our intention is ALWAYS to ensure the longterm safety of your investment. Please contact us for more information.
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