Despite insisting in the 2017 budget that the government intended to build 300,000 new homes a year to help ease the housing crisis in England, latest figures by the Office for Budget Responsibility have found that hosing stock in England is falling short of the 300,000 pledge by over 20%. At current levels, the OBR claims that 233,430 new residential properties will be built in 2018, 66,570 dwellings short of the required amount. Further predictions have indicated that within the next five years this figure would rise to around 250,000 new homes per year. Read more on Today’s Conveyancer website.
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