Government action needed 'to improve housing market'

Posted: 19 Jan 2010 11:54:04 GMT

Government action needs to be taken on a number of issues before the housing market can fully recover from the effects of the recession, states one expert.

David Bexon, managing director of SmartNewHomes.com, says: "There are a range of pressing issues, from the troubled mortgage finance market to an antiquated planning system and prohibitive regulations that need urgent attention."

He states that while the house building sector has generally responded well to the challenges caused by the recession, the same cannot be said for the property market in general.

Mr Bexon's comments come in response to recent statistics from Barratt Developments, which revealed that the price of its new-build properties has increased by four per cent in the second half of 2009 to £167,000.

He goes on to add that while these figures are "encouraging", there needs to be a greater availability of new homes across the board.

Nevertheless, he concludes, the statistics show that many property building companies have emerged in a stronger position from the recession.

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