New building plans ‘will boost economy’

An announcement by prime minister David Cameron and deputy prime minister Nick Clegg to revitalise the housing market will be good news for builders in Newcastle.

The government figureheads have confirmed they want to make it easier for lenders to lend and builders to build in order to fix a “broken” housing market.

According to the Department for Communities and Local Government, construction experts will be aided by plans to build affordable homes.

Some £1.8 billion of cash is to be made available to those who create affordable places for Britons to live.

Builders of all sizes are welcome to apply for grants and many could be involved in the forming of a brand new town made up of 10,000 homes.

Peter Bolton King, chief executive of the National Federation of Property Professionals, last week told how there is a “severe” lack of property supply in the UK at the moment.

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