NHF: It is time to fix the 'broken' UK property market
15th Nov 2012
The government in the UK needs to step up and deliver on its promise to reinvigorate the market for properties for sale across the country, an expert has claimed.
According to David Orr, chairman of the National Housing Federation (NHF), the coalition promised a year ago to get Britain building, but he said that it has yet to deliver on these vows, with many people still languishing in rental homes because they cannot afford to buy.
Since March, the government's NewBuy scheme has seen some 2,000 people reserve a new-build home with a smaller deposit of just five per cent. However, Mr Orr said that this has not been enough, as he urged the ruling parties to do more for families.
He added: "We have the words and the policies but we’ve not had delivery.
"After years of chronic under-supply of new homes we have millions of families now struggling to keep on top of their rising rents and priced out of the housing market. This cannot continue; we’re running out of time to fix our broken housing market and need to address the causes of rising housing costs, not just the symptoms. We need delivery, and we need it now."
Posted by Staff Writer: Ewan Robertson
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