6 May

Changes 'needed' to meet housing demand

Changes 'needed' to meet housing demand

There need to be changes made to tackle the UK's shortage of housing, claims a key expert.

Rosemary Edwards, partner and head of residential development with corporate solicitors Shulmans, believes it is a must for the next government to prioritise overcoming the current shortage of homes in the UK.

Ms Edwards claims a number of factors have led to the problem in recent years, including planning permission legislation, lack of skills and a deficit in funding.

She also highlighted concerns about mortgage availability for those people keen to step on to the property ladder.

"We may say that we need 200,000 new houses or more each year, but not everyone who wants a house can afford one and mortgage eligibility criteria have tightened up considerably in recent years."

In many cases, the recession had a major impact on the number of developers and consequently the lack of homes being built.

The big name house builders suffered the economic downturn, the collapse of many firms and mounting building costs has reduced the number of projects across the whole of the UK.

"As development costs continue to rise, funding remains a major issue for those developers who don't have large amounts of private equity backing," added Ms Edwards.ADNFCR-1222-ID-801786487-ADNFCR

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