UK Money News

19th December 2007
Builders 'will not drive housing shortage recovery'
It is unlikely that the UK housing market will build its way out of the current shortage, one specialist personal finance commentator has stated.
According to Paul Holmes of first-time buyer advice firm Firstrung, without the mass-building of starter homes undertaken following the second world war, little can be done to address the lack of affordable housing in the country.
"Governments do not build homes, builders build homes and in the current marketplace builders are not going to build homes unless they can do it profitably," he said.
Mr Holmes suggested that, based on this fact, any number of governmental promises were not guaranteed to be fulfilled - adding that he did not think the political will to create worker homes for the nation was solid.
In related money news, the National Affordable Homes Agency has stated that it is helping public sector employees to find economical properties in London, the south-east and east of England.
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