Supply Still Unable To Meet Demand In New Homes Market
A new homes expert, Steve Lees, has noted that the demand for new homes in the UK is at this time not being met by the amount being constructed at present.
He went on to say that there are a number of causes for this fact, but regardless of the reasons, the issue of unsatisfied demand still remains.
Steve Lees’ remarks come following the release of statistics collected by the Department for Communities and Local Government. Their publication suggested that seasonally adjusted building of properties begins at 23, 400 in the quarter up until June of this year; this number sees a 9% decrease from the figures recorded between January and March.
Mr Lees asserted that the problem of unmet demand in housing will be problem set to remain prominent, especially in the coming months.
He made clear that “there is still a vast gap between the number of new homes being built and the number needed to make up the massive shortfall between supply and demand in the UK.” Until there is an increase in the supplying of mortgage finance and availability of land on which to build new homes, then the current situation can only get worse, rather than better.
