Market Makes an Upward Turn but Housing Supply Vital

The Daily Telegraph article today will give many homeowners, estate agents, solicitors and IFA’s a confidence boost as indications continue to show that the housing market in the UK is making a slow recovery.

It is important to remember however that house prices are still out of sync with earnings and never reached the lows seen in America in order for a real re-adjustment to take place. The lack of housing supply is the key driver in supporting the price rises and whilst this is good news for many, it distances still further thousands of others from getting on the housing ladder as the gap widens.

Chancellor Osborne’s initiative Help-to-Buy is bridging that gap in some instances and is certainly helping many people achieve a home purchase that they otherwise wouldn’t have been able to, but more needs to be done to deliver new homes, as the article suggests.

Making planning law simpler and quicker for developers will make a huge difference and the industry will welcome forthcoming changes.

You can read the Daily Telegraph article here.

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