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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.”


Eadon to head PFS

Tim Eadon is to be the new chief executive at the Personal Finance Society. Eadon, who takes on the role next week, was formerly head of Sesame Solutions where he was responsible for business development and transformation of the network’s financial advice channel. He takes over from Mark Ommanney, who left the post in March. […]

Which? says Hips will save 1m a day

Home information packs could save 1m a day being wasted on failed property transactions, says Which? It estimates that 350m a year is wasted as more than 30 per cent of transactions fall through. Two-fifths of failures result from surveys or valuation inspections that find fault with the property. Which? believes that Hips should cost […]

Lenders will be weakened

If a lender offers a special deal such as an interest rate of 2 per cent below base rate for the first two years, it hardly seems unreasonable to stipulate some sort of disincentive against the borrower switching to another lender the moment the special terms come to an end. If the lender does not […]

This week in Politics

Following on from last week’s ‘Money isn’t everything’ speech from David Cameron Shadow Chancellor George Osborne moved further away from traditional perceptions of the Tory Party telling the BBC the next Conservative manifesto will not pledge tax cuts.

Mark Page: “A good time to be a European fund manager”

With European markets picking up in early 2015, Mark Page, Artemis European Opportunities Fund manager, discusses the ‘macro’ drivers and whether the improvements are sustainable. Largely driven by economic stimulus by the European Central Bank, European stockmarkets have performed strongly so far in 2015. Mark discusses the relative merits and sustainability of ECB policy with […]


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