Private Finance comments on Housing supply: net additional dwellings, England: 2018-19 report

Chris Sykes, Mortgage Consultant at Private Finance comments on the Housing supply: net additional dwellings, England: 2018-19 report.

“The number of additional homes created each year has reached a new high, outstripping the previous peak seen in 2007-08 before the full effects of the financial crisis hit the market. Insufficient supply has been a longstanding issue for the UK’s property market, pushing up prices and slowing down movement at all levels of the housing chain. Any boost in supply will therefore be welcomed by homebuyers, who are already experiencing more favourable conditions thanks to a slowdown in price growth and record low mortgage rates.

“There is still some way to go if the Government is to reach its target of 300,000 new homes a year by the mid-2020s, with more than 86,000 homes still needing to be built based on this year’s figures¹. Whatever the outcome of December’s general election, the next government must ensure reaching this target remains a key priority if affordability is to continue improving for homebuyers.”

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