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Number of new homes falls to 50 year low

It has been revealed that the number of new homes being built in the UK has actually fallen to a 50 year low. While it is no surprise to see the number of new homes well down over the last 18 months, a 50 year low is even worse then the most pessimistic had expected. However, this is just where the problems begin!

Not only have we seen the new homes market shattered but we have also seen literally hundreds of building companies go out of business over the last few months. So as and when the sector perks up there will be a major shortage of developers and builders to fulfil demand - not that new homes will be in demand for at least 12 months at the absolute minimum.

However, the fall in new builds is just a reflection of the property market as a whole where even the most experienced in the market place are struggling to find something to compare with the current situation. The main concern is that this is no short term blip, this is the real deal and will see UK house building picking up the pieces for many years to come.

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