12 Jul

Rise in new homes planned

Rise in new homes planned

The number of successful planning applications for new homes has rise, according to the latest report from the House Building Federation.

During the first three months of 2016 planning permission for 66,102 homes was granted - up four per cent on the same period in 2015.

This now means potential house building levels are higher than those seen in 2006 and 2007 and are moving towards the peak of March 2008.

Demand for newly built property also remains strong, with the HBF estimating there is now a shortfall of more than one million homes in England, with 1.24 million people currently on housing waiting lists and around 3.35 million young people still living with their parents.

"Planning permissions are a strong indicator of future levels of supply. The past two years have seen huge increases in building levels, with housing supply in England surpassing 180,000 homes per year in 2014/2015, up 22 per cent on the previous year," said Peter Andrew, deputy chairman of the HBF.

He also added that the Help to Buy scheme is boosting demand and helping many buyers step on to the property ladder, especially while interest rates remain low.ADNFCR-1222-ID-801821638-ADNFCR

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