Monday, October 6, 2008
On Topic – RICS latest absurd prediction
Moves by housebuilders to down tools and mothball projects will demolish the government’s new homes target and could trigger another boom-bust cycle, the Royal Institution of Chartered Surveyors has warned. The government needs 200,000 homes built a year to hit its target of two million homes by 2016, but the total so far this year is only 66,200, said Rics. Failure to hit this target could see surging house prices if demand outstrips supply, said Rics senior economist Oliver Gilmartin.