Share this page
Print this page:
Add this page to:
Residential property supply 'needs to increase'
02/09/10
Britain is currently lacking enough residential property to satisfy demand, one expert has argued.Steve Turner, head of communications at the Home Builders Federation, said it is a "matter of urgency" to increase the amount of stock on the market.
He remarked: "We estimate that we have already got a housing shortfall of a million and ... that million shortfall is getting bigger."
According to Mr. Turner, boosting the number of residential properties in the UK will also have a beneficial effect on employment.
Every house built generates 1.5 full-time jobs in the construction sector, he commented, with four times that being created in the supply chain.
There are currently 4.5 million individuals waiting to be given a residence, the specialist added, with an increasing number of those staying with parents until their 30s.
His comments followed a recent report by Policy Exchange, which advised the government to implement a "community-controlled" planning system in which local residents get more of a say regarding housing developments in their area.
