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New Homes Slump

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Sep 10 2003

A recent article published by the House Builders Federation (HBF) indicates that new house building has slumped to its lowest peacetime level in 77 years.

Ignoring the war years from 1940 to 1946 government figures have revealed that less new homes were built in 2001 than in any year since 1924. This drop follows a period of exceptionally high growth in households with approximately 40,000 more new households being created annually than houses being built to accommodate them. They also point out that this is not a one off problem as the number of homes being built has been in steady decline for the past 30 years.

The result is an imbalance of more people chasing less homes which serves to push house prices ever-skywards.

Source: HBF

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