Property News · March 2, 2016

Developers 'restricting supply of new home to boost profits'


Local government select committee chair criticises firms for ‘building at a rate to maximise their profits rather than address the country’s housing need’Britain’s developers have been accused of increasing their profits from the UK’s housing crisis by restricting the supply of new houses to keep prices artificially high.Latest figures reveal that nearly record half a million homes in England now have planning permission granted but have yet to be built. The length of time it takes for developers to complete a house has jumped from 24 months to 32.It reignites a long-running row between policymakers and the house building sector over who is to blame for the current housing shortage. Continue reading…

Source : theguardian.com
Read more…Developers ‘restricting supply of new home to boost profits’

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