“With the latest figures showing that construction levels in the UK dropped to a two-year low in November, the new data from RICS shows housing supply is continuing to prove a restraint on the market which is unsurprising. Housing starts in the 12 months to September were up 12% compared to the previous 12 months, but skills shortages and access to finance remain issues in the sector, particularly for smaller builders.
“The Chancellor’s announcement in the Autumn Statement to build 400,000 affordable homes by the end of the decade is extremely welcome, but as demand-side initiatives will tend to move faster than supply policies, there is much that can be done in the shorter term to alleviate pressures, such as bringing back into use the 200,000 homes currently classified as long-term empty in the UK.”
For further enquiries, journalists can contact:
Johnathan Priestley, Cicero Group
Phone: 0207 297 5954
Rachael Snelling, Aldermore
Phone: 0208 1853 102
Notes to Editors:
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