Nottingham Letting Agent Property Blog

A survey by the Home Builders Federation has found planning approvals for new properties are up 10% compared to a year ago, but are still well below the level needed to meet demand. Their latest report shows approval for 36,761 homes was given during the first quarter of this year, compared to 33,450 approvals during the first quarter of last year, and just 27,732 approvals in the previous quarter. Although this is an improvement, approval needs to be given for 60,000 new homes a quarter, as it's estimated the construction industry needs to build 240,000 homes annually to meet demand.The report...

Housing Minister Grant Shapps was speaking at the Home builders Federation annual lunch last week, and again pledged to help those people who would like to move. He plans to do this through the NewBuy scheme which should help first time buyers as well as homeowners who have outgrown their present property. According to a recent survey, around 40% of homeowners aged under 34 feel their present home is too small for their needs. Another survey by the HSBC found many of the 360,000 home owners who bought property after 2007 were unable to move due to lack of equity.It is...

The latest report from the Home Builders Federation was released on Friday, and shows that just 25,000 planning permissions were granted in the second quarter of the year. This is the way short of the 60,000 needed each quarter to meet the current housing shortfall, and is 23% less than the same quarter last year.If planning permission is gained now, then the homes are usually built during the next three or four years, and it looks as if the UK is heading for a housing crisis as there are fewer homes are being built now than at any time since the...