Bud­get boost for build­ing fund

Yorkshire Post - Property - - FRONT PAGE -

PLANS to ex­pand the gov­ern­ment’s Get Bri­tain Build­ing Fund have been wel­comed. This week’s bud­get promised £150m ex­tra to­wards loans to help de­vel­op­ers build new homes.

David Newnes, di­rec­tor of LSL, own­ers of Your Move and Reeds Rains says: “House build­ing is the only long-term so­lu­tion to the cur­rent im­bal­ance be­tween de­mand and sup­ply in the prop­erty mar­ket, but it’s im­por­tant the aid is spent where de­mand re­quires it. While prop­erty prices in London and Wales are on the rise, the North and North West have seen falls. Con­struc­tion must fo­cus on ar­eas where there is a strong de­mand for new prop­erty, oth­er­wise the gov­ern­ment risks pay­ing for ex­pen­sive white elephants.”

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