New homes success unlikely
Wednesday, 23 January 2008 12:00 AM
The government is unlikely to succeed in its ambition to build millions of new homes before 2016, according to the National Self Build & Renovation Centre (NSBRC).
While the ambitions are laudable and may have some impact on the property market, the chances of meeting them are "diminishing" according to the organisation.
"However, the government is already behind target, and the likelihood of delivering enough suitable, affordable new homes over the next few years is diminishing," said Tim Doherty, managing director at the NSBRC.
Last year Gordon Brown moved housing back onto the political agenda, pledging to build two million new homes by 2016 and three million by 2020.
Strict targets for carbon emissions would be placed on the new properties, with the aim of making all new homes carbon neutral by 2020.
Ten new eco-towns would form a core part of the initiative.
And, while success is unlikely, the government's involvement in the issue could prove positive.
"The government's intervention in the debate over new homes last year offered encouragement to the construction industry supply chain, with new defined annual targets, relaxations in domestic planning and of course new goals for carbon neutrality," continued Mr Doherty.
Recent house price surveys carried out by Halifax, Nationwide and property website RightMove have all pointed to a slowing market, while the Royal Institution of Chartered Surveyors (Rics) finds confidence in data showing the market is at its lowest level since 1992.
"With major housebuilders practically on stop across the country, and falling house prices, now may an ideal time to consider renovating or building your own home," concluded Mr Doherty.
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