Jobs, Growth and Social inclusion

Volume builders promise Minister they will build more homes

Volume builders promise Minister they will build more homes
Major house builders have reassured housing minister Mark Prisk that Government mortgage support measures will lead directly to more homes being built.
 
The meeting took place as fresh figures showed that 12,500 reservations have been made through the Government’s Help to Buy scheme up to the end of August.

The scheme is well on target to deliver the 74,000 homes intended over the next few years.

Figures emerge as the industry enters its traditionally busy autumn selling season.

After the meeting Prisk said:"The housing market has turned a corner. There are more first time buyers than at any time since 2007, while housing supply is at its highest level since 2008 and growing at the fastest rate for three years.

“I'm delighted that developers have pledged to use this momentum to increase output and get Britain building again."
 
Stewart Baseley, Executive Chairman of the HBF said: “With the traditionally busy Autumn house buying period upon us, all the signs are that the next couple of months will see a significant number of people realising their ambition of home ownership.

But he warned that ministers still needed to act on the other constraints on supply – a lack of land and excessive regulatory costs.”
 
Mark Clare, Chief Executive of Barratt said:“Customer interest in the Help to Buy scheme has been very strong particularly from customers previously locked out of the market by high deposit requirements.

“Post the Budget announcement we saw reservation rates increase and partly as a result the number of homes we sold last year was up 20% on two years ago.

“We are now preparing for further growth and have committed £1 billion to land investment for new homes and we're also expanding the business by taking on 600 new apprentices and graduates to tackle the skills shortage''
 
Jeff Fairburn, group chief executive of Persimmon said:“We have increased our build activity to meet this increase in demand.

“And in addition to helping the housing shortage this will have wider benefits for jobs and the economy – for example Persimmon has already decided to make significant further investment in trade apprentices this year to support the anticipated increase in output.”
 

 

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