First Time Buyer Demand Support could see 100,000 extra homes built a year
Doing the same thing and expecting a different result is the very definition of madness.
So the continuing lack of a demand support for first time buyers remains a major barrier to growth for SME housebuilders, over 84% of whom cite this as a hurdle.
The most recent State of Play report by the Home Builders Federation, Close Brothers Property Finance and Travis Perkins reveals that SME housebuilders could boost the supply of new build homes by up to 100,000 every year if a demand support incentive for first time buyers were in place.
Current sales rates have catastrophic impacts on many smaller builders – not just cashflow but loan repayments too as well as all the jobs that are impacted by the prolonged slowdown. It has already started to become a vicious circle reducing the country’s ability to deliver new homes and increasing employment uncertainty.
So come on Steve Reed and the Ministry of Housing, Communities & Local Government. Let’s focus less on your blog about Life at Ministry of Housing, Communities and Local Government and lets get on with putting together something that will make a real difference to actually building more houses – a properly funded First Time Buyer Demand Support Scheme.
James Scott
MD
Source SME State of Play survey by the Home Builders Federation, Close Brothers Property Finance and Travis Perkins.
