The government is set to miss its one million homes
target as a result of market uncertainty following the Brexit vote, a
consultancy has forecast. A report produced by research consultancy Capital
Economics for homelessness charity Shelter estimates a 266,000 shortfall in
housing starts by 2020, due to uncertainty over the vote to leave the European
Union. The report projects that the number of homes expected to be built in
2017 will fall from 164,000 to 140,000 as market confidence drops – a reduction
of 14.6%. In 2018, 151,000 homes are expected to be built, instead of 176,000
as previously expected. The report uses data for house prices and housing
starts and makes forecasts for changes in gross domestic product following the
Brexit vote. Download the report from Capital Economics website.
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