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Housing Supply solutions

Of course there is demand for housing on our small Island but it is the supply that causes many of the problems in our housing market. Mr Carney has already identified that he can try and do something about demand for housing but he cannot build a single house himself.  So what could our councils and government do to improve the supply of housing in the UK?

Screen shot 2014 05 27 at 16.32.44 - Enable FLP

Of course it seem  so simple, all you have to do is build new houses but the problem for us is space, where are all these new homes supposed to go.  In the year to March there were just 112 630 new houses completed in England only a 4% rise on building from the year before.  But to keep up with demand many believe the UK as a whole has to build at least 250,000 homes a year to meet the rising population, and only then would it put a brake on prices.

In recent years there has been a lot of building on brownfield sites – like old hospitals or factories in or around cities – and for many places there is not a lot of choice particularly in London and the South East, where the population is rising the fastest. Sam Bowman, research director at the Adam Smith Institute, has argued for some time now that local authorities should allow building on greenbelt land. “By rolling back the greenbelt by just one mile around London, we would have space for one million new homes,” he said this week but even the Home Builders Federation, which wants more land made available, is not keen on  that idea. If you are looking to buy a home Enables IFA’s in Bishops Stortford can help you look at your options.

Your home may be at risk if you do not keep up your mortgage payments.

Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 – Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.

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