Finance could be spent on 'increasingly popular' new builds

02 March 2010

Written by Simon Whittaker

Property development finance may be needed after it was claimed that new build homes are increasingly popular.

Chief executive of BuildStore Raymond Connor said that the market is currently favourable to such builds.

"Increased land availability, falling land prices, and cheaper materials and labour mean there is now a real demand from frustrated homeowners wanting to build their own homes," he noted.

But despite these conditions, finance is still needed from the government, which could encourage local authorities to offer land for such projects.

His comments follow Kier Group's results for the six months to the end of last year, which were published last week.

It reported that underlying pre-tax profits had jumped by 20.8 per cent and were at £31.9 million.

Chief executive of the organisation John Dodds said that the firm's order book had grown in recent times.

Mr Connor added that achieving the perfect property is often more affordable if the house is built from scratch.

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