An interesting statistic just published by Government reveals that new starts for housing are 42% down on 2006/7. The impact of this is being felt at a local level throughout our area where the supply of property is severely restricted. To be fair this problem is a result of a vareity of policies ranging from interest rates, stamp duty increases, rental options as well as home owners reluctant to commit as the overall supply does not provide confidence that even if you do sell you may not be able to find. Classic ‘chicken & egg’ scenario as this problem removed if everyone thinking of moving now placed their property on the market there would no longer be a supply problem!
Although there have been more successes on the planning front the shortfall in housing is a much acknowledged problem; one which this report starkly demonstrates.