Wednesday, 23 November 2016

PM 'Will Not Hit' One Million New Homes Target

The government's target is one million new homes by 2020; the argument being that more supply will bring down prices. But the head of one of the UK's largest housebuilders, Berkeley Homes, says the target may be missed. Radical change will be required to raise the current new-build rate above 170,000 per year, says Rob Perrins. When I asked him if the target would be hit, his answer was emphatic. "There are three reasons why they will not hit the target. Firstly, there is not enough land ready for development. Secondly, the UK has the highest property taxation in the world. And it acts as a disincentive to build and [for people to] move. And thirdly, I don't believe it is a top three political issue.” Read more on the BBC website.

No comments: