Skip to main content

The house building industry slump to its lowest level.

 The house­ build­ing industry has warned that the num­ber of new prop­er­ties com­pleted each year in

House
Eng­land could slump to its low­est level since the second world war, owing to a «per­fect storm» of gov­ern­ment policies and higher mort­gage rates.

Stew­art Base­ley, exec­ut­ive chair of the fed­er­a­tion, said the gov­ern­ment’s «capit­u­la­tion» to the «not in my back yard lobby» and its mis­hand­ling of envir­on­mental policies, could lead to a plunge in house build­ing and threaten hun­dreds of thou­sands of jobs.

Base­ley said «short-term polit­ical decisions to appease» back­bench Con­ser­vat­ive MPs con­cerned about devel­op­ment were threat­en­ing con­fid­ence in the hous­ing mar­ket just as Bri­tain headed into a prob­able reces­sion, with tighter mort­gage avail­ab­il­ity.

In research for the HBF, plan­ning con­sultancy Lich­fields pre­dicted that the changes to the frame­work could reduce sup­ply by 77,000 prop­er­ties a year in the near term.

The research also con­cluded that gov­ern­ment envir­on­mental rules to guard against pol­lu­tion of rivers and water­ways could fur­ther cut sup­ply by 41,000 homes a year.

www.sba.tax

Labels:

Comments

  1. Rebecca27 February 2023 at 09:50

    This was predictable if I ask me. And it's not good. We will soon run out of homes to live in and the younger generation will find it harder to find a home to call their own or even to rent one. It will take 2-3 years but we are heading there.

    ReplyDelete

Post a Comment

Cloud Bookkeeping

US FED rate rise.

  The US Federal Reserve officials have indicated that they plan to resume increasing interest rates to control inflation in the world's biggest economy. During the June meeting, the Federal Open Market Committee reached a consensus to keep interest rates stable for the time being to evaluate whether further tightening of policy would be necessary. However, the majority of the committee anticipates that additional rate increases will be required in the future. The minutes of the meeting have recently been made public. According to the minutes, most participants believed maintaining the federal funds rate at 5 to 5.25 per cent was appropriate or acceptable, despite some individuals wanting to raise the acceleration due to slow progress in cooling inflation. Although Fed forecasts predicted a mild recession starting later in the year, policymakers faced challenges in interpreting data that showed a tight job market and only slight improvements in inflation. Additionally, officials gr...
Post a Comment
Read more

India- UK trade deal.

  According to India's top trade official, talks with the UK regarding a trade agreement are progressing well, despite obstacles related to temporary work visas and the opening up industries like automotive and spirits. The Commerce and Industry Minister, Piyush Goyal, explained that India is seeking transition periods or greater market access in specific sectors due to its economy, which is slightly larger than the UK's and expected to outgrow it in the coming decades. If a trade deal is reached, it would be one of the most significant agreements for Britain since leaving the EU, and it would also be necessary for India, which surpassed the UK as the fifth-largest economy last year. Goyal stated that India aims to increase its economy from $3.5tn to $35tn by 2047, the country's centenary of independence. According to officials and diplomats in India, talks about a proposed trade deal may be finished by early September, just in time for the G20 summit in New Delhi. Nigel Hu...
Post a Comment
Read more

EU business slide.

  S&P Global’s flash eurozone composite purchasing managers’ index, a key gauge of business conditions for the manufacturing and services sector, fell 1 point to 47.1, figures showed yesterday. That is its lowest level since November 2020 and the fourth consecutive month below the crucial 50 mark separating growth from contraction. One of the few bright spots in the survey was that companies in all sectors reported a slight easing of cost pressures, price growth and supply chain constraints. However, prices charged for goods and services still rose at the sixth fastest rate since such data started in 2002. Jobs growth increased marginally from October but remained low compared with the past 18 months. Following a few months of falling price pressure in manufacturing and services, the October print shows an overall stabilisation said Jens Eisenschmidt, chief European economist at Morgan Stanley. However, German businesses, at the hub of Europe’s energy crisis, reported that manu...
1 comment
Read more