Still a "massive" shortage of housing
The number of applications to build new houses increased by four per cent in the last quarter, according to new research, but one sector commentator has stated there is still a "massive" shortage of property.
In the north-east there was an annual rise of 149 per cent, while private sector applications were up by 17 per cent in the last year, the figures from the National House-Building Council (NHBC) revealed.
Furthermore, the average number of daily sales of new homes in the UK during the third quarter of 2009 was 365, although this is 15 per cent below the third quarter of 2008.
Commenting on the findings, Brian Berry, director of external affairs at the Federation of Master Builders, said: "While the latest statistics from NHBC provide at least some encouragement, it cannot be seen to be the beginning of the end for the housing crisis."
While the UK continues to lack more affordable housing, Britons may find that property to rent in Fulham or other boroughs of London continues to be a cheaper option than buying.
Written by Ben Carter
Published 26th October, 2009
© 2009 Estates IT Limited
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