Demand for new homes 'will grow'

Posted: 21 Nov 2011 11:38:38 GMT

Demand for new homes in the UK will continue to grow in the near future, an expert believes.

New homes are set to become increasingly popular among people looking to purchase a house in the near future.

That is according to Vernon Pethard, managing director of online resource New Homes For Sale, who believes the "huge demand" for such abodes will continue to grow over the next few years.

Mr Pethard explained there is currently a short supply of new properties due to reasons such as the problems being faced by first-time buyers in accessing mortgage finance and the "snail-like" progress being made on the nation's planning system.

Last week (November 17th), the Department for Communities and Local Government revealed that the seasonally-adjusted house building starts dipped by one per cent in the third quarter of the year compared to the previous three-month period.

And Mr Pethard noted that the administration and lenders in the property market now need to do more in order to stimulate the sector following the recession. 

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