Housebuilders Start To Build More Homes
The Uk has seen a big increase in the number of new homes that are being built according to industry body NHBC (National House Builders Confederation). The number of new homes that have been registered has increased by 18% in the first quarter of 2015 as housebuilders take advantage of the booming housing market.
Builders and developers registered just over 40,000 new homes in the first quarter which is still down from the 53,000 new homes registered during the first quarter of 2007.
65,000 new homes required every quarter to meet demand
The figure provided show that the housebuilding industry is trying to keep up with the demand for new homes as buyers take advantage of the help to buy scheme and the other incentive schemes that the government has introduced. Even at these numbers we are still not building enough homes as the number required to meet demand would be closer to 65,000 new homes every quarter.
However whilst we are still not building enough new homes there is hope that now the general election has been settled we may be able to increase these numbers according to government officials.
40% of new developments with more than 14 units must be for affordable homes
Home ownership and affordable homes were key battles that were fiercely fought out between all the parties during the election and there is no question that we will require a building boom in order to meet demand. It is not just private homes that are required. We also need to build more council homes.
The government will be relying on some of the UK's biggest developers to provide much of this social housing as a condition of planning permission approvals. Currently property developers are forced to provide 40% of any new scheme to affordable housing. This is a rule that exists for schemes where there are more than 14 units.