In November 2011, the Coalition Government, led by David Cameron, set out its ambitions to stimulate the development and construction sector in order to meet the rising demand for housing in England. The document ‘Laying the Foundations: A Housing Strategy for England ‘ sets out the long-term plans for tackling the current critical housing shortage.
The Government states in the document that:
In 2009/10, there were 115,000 new build housing completions in England. Meanwhile, the latest household projections suggest that the number of households will grow by 232,000 per year (average annual figure until 2033).
If this growing demand is to be met, then there needs to be both extensive investment and increased development in the housing sector.
The problem as seen by the Government is wide-reaching: Investors, developers, growing families, growth of tenants and restrictions by the lending banks were all factors that culminated in the stagnation of new housing…
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