Mort­gage scheme still to have ef­fect

Yorkshire Post - Property - - PROPERTY -

NEW house build­ing has de­creased sharply this year, ac­cord­ing to the Of­fice for Na­tional Sta­tis­tics.

Quar­ter one saw 24,140 house­build­ing starts, 11 per cent fewer than the pre­vi­ous quar­ter. Pri­vate house-build­ing starts were 8 per cent less and so­cial hous­ing starts were 21 per cent less.

RICS chief econ­o­mist Si­mon Ru­bin­sohn says: “The data clearly demon­strates that hous­ing de­liv­ery is fall­ing well short of ex­pec­ta­tions. There are good rea­sons for ex­pect­ing govern­ment pol­icy to grad­u­ally have an im­pact on the level of starts. The NewBuy mort­gage in­dem­nity scheme only started a cou­ple of months back and is tak­ing a while to gain trac­tion. For the medium-term, plan­ning changes could help.”

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