Build­ing fore­cast to rise for five years

Yorkshire Post - Property - - PROPERTY -

PRI­VATE sec­tor de­vel­op­ers are re­spond­ing to the grow­ing de­mand for homes, driven by the im­prov­ing econ­omy and sup­ported by Help to Buy, say Sav­ills.

Al­though pri­vate en­ter­prise com­ple­tions are still about 85,000 a year in Eng­land, the num­ber of starts rose by 31% to 54,760 over the six months to Septem­ber 2013 com­pared with the same pe­riod the pre­vi­ous year.

As the hous­ing re­cov­ery takes root and spreads to mar­kets be­yond Lon­don, Sav­ills ex­pects house­build­ing rates to gain mo­men­tum in 2014.

They pre­dict that pro­duc­tion will in­crease by 8% a year in the five years to March 2018, which equates to 107,000 new homes a year.

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