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Fewer properties being built now then at any time since the turn of the century

Just Over 100,000 Homes Being Built Annually We are building fewer homes now than for nearly 100 years. This comes as new properties being built has continued falling over the last five years and is now 125,000 less than in the peak of 2008. Part of the reason why house prices are shooting up is because there is a lack of supply. This has the effect of pushing up prices and makes it even harder for buyers to get on the housing ladder.

Not only is this having an effect on house prices but rents are also at the mercy of supply and demand. Last year we built 10,000 fewer homes than the previous year. New builds stood at 118,000 last year whilst new conversions added 4,000.

Some commentator believe that more new homes will be built because there is a strong demand. It is unlikely however that we are likely to meet the annual target of 300,000 new homes which is necessary just to meet demand. It would seem that the government is going to leave this to the private sector as social housing is not being built in any great numbers.