30
May
Undersupply problems 'getting worse'
The problem of a housing shortage in the UK is likely to be
compounded by the current conditions being witnessed in the market,
it has been claimed.
Director of external affairs at the Home Builders Federation John
Slaughter stated that not enough properties have been constructed
in the past 15 years, adding that the situation will be
exacerbated.
At the moment, there is a "lack of mortgage finance", even though
people would like to buy, he said.
However, when there is an upturn there will still probably be a
"backlog" of demand, Mr Slaughter remarked.
"We have an underlying issue of undersupply for some time and the
current situation is likely to exacerbate that," he
commented.
Group chief executive at Barratt Developments Mark Clare has
recently stated that new housing developments are currently being
hit by the credit crunch.
He added that plans by the government to create new houses were
placed under more pressure due to its own definition of non-carbon
dwellings.
