Post-election cuts 'could create unprecedented housing shortage'

Posted: 19 Apr 2010 10:00:04 GMT

Proposed cuts to the housing budget could create an unprecedented shortage of affordable homes in the UK, industry experts have warned.

According to the National Housing Federation (NHF) and the Home Builders Federation (HBF), some 600,000 affordable properties will not be built as planned if post-election proposals from the three major political parties go ahead, the Telegraph reports.

Stewart Baseley, executive chairman of the HBF, says the UK is already suffering from a "chronic shortage" of housing which is having "significant" social and economic implications for the 4.5 million people who are on waiting lists for affordable homes.

"It is imperative that public spending to support affordable house building is maintained post election if the crisis is not to plunge to new depths," he states.

Katy John, spokesperson for PricedOut.org.uk, says the lack of this type of housing is a particular problem in London, with many first-time buyers currently being forced out of the market.

© Houseladder Ltd