Could property development finance resolve 'urgent need for housing'?

01 September 2010

Written by Jeni Browne

More people may be seeking property development finance for housing projects as one expert has stated increasing the supply of abodes is a "matter of urgency".

Head of communications at the House Building Federation Steve Turner argued it was vital a way of quickening the rate at which new homes are being made available is found.

The specialist reported there is an estimated shortfall of one million houses, which is growing in size each year Britain does not manage to construct 200,000 or more properties.

"There are implications both socially and economically to get this right," he said, explaining more people were being forced to live with their parents into their 30s and there are four and a half million individuals on waiting lists.

A report by Policy Exchange recently proposed financial incentives should be given to local communities to govern their own housing system and meet their own needs.

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