Radical changes needed to boost homebuilding, experts warn
Industry experts have called on the government to make radical changes to boost homebuilding.It follows the release of monthly construction industry data yesterday (5 December), showing a decline in the homebuilding sector. The S&P Global UK Construction Purchasing Managers’ Index revealed homebuilding numbers dropped for the second month in a row.A report by the Centre for Cities thinktank has also warned that the government was on course to fall short of its 1.5 million target for new builds by the next general election.Gareth Belsham, director of Bloom Building Consultancy, said residential developers were still struggling with high interest rates – which have increased the cost of buying land – as well as patchy demand from buyers.“The government’s promise to get 1.5 million more homes...
