Little change in new homes built

According to the national house-building council (NHBC) the number of new houses completed has grown by just one per cent from 2007.

This is down from the increases in the same period last year, with the main housing indicators, such as mortgage approvals, reservations and ability of consumers to buy, all showing a downward trend.

House builders registered with the NHBC have been faced with a mountain of problems, not least the targets set by the Government to increase the housing supply and producing zero carbon homes in the process.

All this in the midst of an impending recession in the US and a major slow down in UK market that is looking to get much worse before it gets any better.

Where private sale new builds actually fell the overall increase was propped up by the increase in social housing, Housing association homes, being built for the market in a bid to get more affordable houses for first time buyers.

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12/03/2008 09:48:18