20
May
New house building data 'may be good news for property seekers'
People looking to get a new home may welcome data provided by
Department for Communities and Local Government.
The organisation revealed that over the first three months of this
year, there were 24,930 seasonally adjusted house building starts
in England.
This was an increase of 13 per cent compared with the previous
quarter, it noted.
Responding to the statistics, Simon Rubinsohn, chief economist at
the Royal Institution of Chartered Surveyors (RICS), said they are
consistent with the better tone evident in the last construction
survey it conducted.
He remarked: "RICS expects housing starts over the course of 2010
to total around 120,000." This is "some way above" the total from
last year of 80,000, he noted.
However, for the sector to be boosted further, more finance in the
form of mortgages must be provided to consumers, Mr Rubinsohn
claimed.
Also, home builders could benefit from a greater level of credit,
the expert added.
