Government house building policy "absolutely critical"
Potential first-time buyers are being told that the lack of new homes being built in the UK is resulting in an overpriced housing market.
According to Steve Turner, head of communications at the Home Builders Federation, government action needs to be taken in order to avoid further property booms that "don't do anybody any particular favours".
He added that although first-time buyer schemes are in place, the issue requires a long-term solution to for firm to be able to construct new homes.
The most recent figures from the Land Registry indicated that the average cost of buying a place had risen by 1.6 per cent between March and April this year and would set a person back more than £336,000 on average.
News that a lack of new homes becoming available could inflate house prices may encourage more people to consider looking for property to rent in the London borough of Hertsmere or elsewhere in the country.
By Chris Price
Published 26th May, 2010
© 2010 Estates IT Limited
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More people may consider looking for property to rent in the London borough of Hertsmere or elsewhere in the country after a housing expert suggested that the UK faces a lack of new homes.