27 Jan

Housebuilding needs to increase to meet targets

Housebuilding needs to increase to meet targets

The government target of building a million new homes by 2020 may not be reached unless there is a significant increase in developer activity.

According to the National Audit Office (NAO), the demand for housing is set to rise at a higher rate than predicted, with at least 227,000 new households being formed each year – which is higher than the average of 166,000 extra homes being created each year.

The NAO predict there will need to be 174,000 new homes created each year by the government, but this may not be achieved without the introduction of new policies, as well as support for housebuilders.

 “The need for housing in England has in recent years grown faster than its supply, and house building needs to increase across the country. The government has responded to this by putting in place a range of policies to increase housing supply and home ownership,” said Amyas Morse, head of the NAO.

“Central to this is an ambition to increase the supply of housing by one million homes by 2020, largely through support to private housebuilders.”ADNFCR-1222-ID-801831433-ADNFCR

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