Worst of the housing downturn 'is behind us'

Posted: 31 Dec 2009 10:16:53 GMT

The UK has seen the back of the worst of the housing downturn, according to one industry expert.

Dino Wilson, editor at tailoredhome.net, says an increase in market confidence, coupled with a rise in mortgage approvals should contribute to "a sizeable jump in the volume of housing starts next year".

He adds that once again homebuilders are competing for good quality land to build houses on in the UK.

However, it is not all positive news for the housing market as the year draws to a close. Mr Wilson goes on to state that the number of new homes predicted to come onto the market in 2009 will fall "well short" of the 240,000 benchmark set by the government.

New figures from SmartNewHomes.com have revealed that in three of the last four months the average price of a new-build property has increased in value.

The standard value of a new home is now £218,160.

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