Saturday, February 26, 2011

Fewer rabbit hutches = a good thing

Barratt Developments moves away from first-time buyer housing

Britain's biggest housebuilder has warned first-time buyers that they are going to find it even harder to get onto the property ladder. The company is moving away from building homes for FTBs because young people are finding it too difficult to get mortgages. "First timers are being pushed into the private rental market, but that also requires new homes to be built." Mark Clare, chief executive of Barratt Developments, said there is a "severe" lack of new homes, with only about 100,000 new homes being built each year, while 200,000 to 250,000 new family units are created annually as housebuilders concentrate on larger properties. "The gap is getting bigger and bigger," he added.

Posted by drewster @ 11:46 AM (1334 views)
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2 thoughts on “Fewer rabbit hutches = a good thing

  • I also heard the Barrat decided to increase selling price at the expense of volume to protect margin. Barrat
    clearly still has pricing power.

    To Mr Posen @ BoE… I don’t suppose this is another ‘external factor’ of inflation that should be ignored ?

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  • eermm.. i don’t see this “severe lack”

    if even now in a recession 100,000 new homes a year, and 200- 250,000 new family units (i assume this means flats(?)) = 300,000+dwellings

    the net increase in population peaked at 400,000 per annum.. most of whom were kids joining a family or imigrants willing to flatshare..

    most properties have more than two people in them, be that families or flatshares.. to me all it says is it’s harder to live on your tod. but then thats very costly and environmentally unfreindly anyways

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