England faces 1 million home shortfall

Sept. 29, 2009
<p>England faces a housing supply shortfall of 1 million homes by the end of next year because of the collapse in housing output over the past 18 months.</p> <p>The shortfall is highlighted in a new report published today - "Mind the Gap" - which calls on the government and the Homes and Communities Agency to maintain public investment in housing at current levels and to take more action to boost mortgage availability.</p> <p>The report has been written by HBF board director David Pretty and Paul Hackett for the Smith Institute, TCPA and Pricewaterhouse Coopers.</p> <p>It warns that whatever short term measures are taken housing supply is still likely to be significantly constrained. "Without the release and relaxation of credit and further increases in spending on both housing and housing-related infrastructure, it may take a decade or more to get back to pre-credit crunch production levels," says the report. However this would "still be well below the levels we need." </p> <p>The report also calls for more land, particularly greenfield, to be released and land supply better managed. The planning applications process should be improved in line with recommendations of the recent Killian Pretty review.</p> <p>The private rented sector should also …

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