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‘Affordable housing shortage worsening’

The affordable housing crisis is worsening by 165 homes a day, says a survey from home warranty provider Premier Guarantee.

Although the number of homes being built increased by 17 per cent in the first quarter of the year compared with the same period last year, 70 per cent of all homes built cost more than 150,000.

Only 170,000 new homes are being built each year while 230,000 new households are formed every year, according to Government figures.

The survey says the UK’s housing shortage is worsening by 60,000 homes a year or 165 homes a day.

The increase in housebuilding also masks a sharp fall in the number of affordable homes being built by housing associations.

Of the 52,140 applications to build new homes in the first quarter of the year, just 6,317 were by or on behalf of housing associations and is down by 11 per cent on the same per-iod last year.

The reduction in the building of affordable homes is at odds with the Government’s efforts to improve the supply of low-cost homes for people priced out of the market.

Premier Guarantee sales and marketing director Robin Plaster says: “Although there has been a substantial increase in new housebuilding, any notion that the housing crisis is being tackled or that the situation for first-time buyers is likely to ease can be firmly dismissed.

The Government must do more to assist first-time buyers with the expansion of the shared equity scheme, along with the release of Government-owned land for the creation of more low-cost homes which are truly affordable.”


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