Wednesday, August 21, 2013

Increase in Housebuilding

New homes are being built and finally it has shown an increase of 6% in the three months to June. It ended as a result of government introducing Help to Buy scheme and cheap borrowing.
Brandon Lewis, the communities minister, put forward figures that showed that housing starts rose to 29,510 in the second quarter of 2013.
Figures from the Department for Communities and Local Government showed that seasonally adjusted housing starts were now 73% above the levels reached at the slump in 2009 but still 40% below the peak in early 2007, just before the onset of financial crisis.
Councils could also play a big role in recovery of house buildings and that is why The Local Government Association (LGA)is urging the govt. to remove restrictions on council investment in new housing. It said councils could build an additional 60,000 homes over the next five years if they were allowed to invest in housing.

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