Insurance News Archive

Homebuilding increases necessary

The government needs to build more properties if it is to make the homebuying process more inclusive.

The Royal Institution of Chartered Surveyors' (Rics') comments follow the release of housebuilding figures for the Department for Communities and Local Government (DCLG) showing a slower rate of housebuilding after four years of increases.

Housebuilding completions increased by 0.5 per cent to 160,234 in 2006 following four consecutive years in which completions increased by five per cent.

The government estimates that 209,000 homes would be needed each year up to 2026 to cater for household growth.

David Stubbs, senior economist for Rics, said: "The government needs to take more action to ensure that house building rises to sufficient levels if it is to make good on its promises to promote an inclusive society where the poorest are not priced out of the housing market."

15 Feb 2007