UK Officials Look To Counteract Housing Crunch

The supply of housing is being overpowered by demand in England, and government officials are hoping to establish measures that would ease the process of building new homes and increase the amount of affordable housing.

1 minute read

May 11, 2007, 6:00 AM PDT

By Nate Berg

"Housing officials warn that unless more homes are built, 70% of 30-year-old couples buying for the first time will not be able to afford a home."

"The Treasury is looking at a range of measures to increase house construction, speed up planning applications, release land and ease access to ownership through shared equity schemes. Some of the measures will allow councils to retain more rent revenue with which to build new homes, the first easing of restrictions on councils for years."

"A government review suggested that 220,000 new homes a year are needed to prevent an escalation in the crisis. Partly by speeding the process of planning applications, the number of homes in construction has risen from 130,000 to 180,000, which is still insufficient to meet the demand anticipated by the review."

FULL STORY: Brown to put homes shortage at centre of new agenda

Tuesday, May 8, 2007 in The Guardian

Housing United Kingdom

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