UK housebuilding in numbers infographic explains the numbers behind the headlines. Find out why the construction of new properties is important
UK housebuilding is a hot topic at the moment, that’s why the experts at Experience Invest have put together a new infographic.
As you can see, the UK housebuilding infographic cover a selection of areas in and around the housing crisis.
There is a huge undersupply of housing across the country. Data from the Yorkshire Building Society has shown that UK housebuilding targets have been missed by 1,199,180 since 2004.
UK Housebuilding Promises
In 2015, the government promised to build 200,000 new homes per year up until 2020 in a bid to ease the market.
In 2015, just 142,890 houses were built in the scheme, 29% under target.
Although housebuilding appears to be an important part of the government’s plan, the House of Lords Economic Affairs Committee believes that the target should be 300,000 per year if the gap between supply and demand can be rectified.
Housebuilding in 2016
2016 has been a year for change in the UK’s property market.
The introduction of higher Stamp Duty tax for buy-to-let and second home purchases, the result of Brexit and the drop in the value of sterling have had varied effect of the market.
The introduction of lower interest rates by the Bank of England has now opened up the market to first-time buyers and many overseas investors have taken advantage of the drop in the value of sterling.
Off plan property investment could allow developers to build housing and receive funding across the build phase.
“Our new UK housebuilding in number infographic simply rounds-up the numbers behind the headlines. The spotlight has been on the property market more than ever in 2016 and we believe the market will continue to flourish as the year continues,” a spokesperson from Experience Invest comments.
No matter how the market responds to Brexit, UK housebuilding will remain a topic which is highly spoken about as the demand for new-build property will not be met any time soon.