20
Nov
HBF calls for help for homebuilders
The Home Builders Federation (HBF) has said that effective action
by the government can help the construction industry increase the
supply of new homes.
An HBF spokesman stated that the sector has increased its capacity
in recent years and was able to deliver 200,000 new homes in
2007.
However, he added, that number has plunged and the capacity has
fallen due to the housing downturn seen this year.
The strength of the recovery the industry can make will depend on
the government undertaking measures to raise mortgage lending or
use Housing Corporation funds to buy up old homes and clear sites
for work to start, the spokesperson added.
He concluded: "There is action the government can take and we need
to see these changes in the pre-Budget report next week to assist
and get the market moving again."
Such action may help increase the supply of new homes for
first-time buyers.
The Council of Mortgage Lenders has also urged the government to
use the pre-Budget statement to announce measures to increase
mortgage lending.
