Saturday, Aug 22, 2015

The sharpest decline since start of 2012, government figures show

Guardian: New home builds fall 14% in three months despite election pledge

The 14% drop in housing starts to 33,280 in the period from April to June is the biggest decline since the first three months of 2012, according to seasonally adjusted government data. Starts are 6% lower year on year.
During the general election campaign, David Cameron pledged that 200,000 homes would be built every year by 2017, as well as 200,000 starter homes by the end of the parliament.

Posted by debtserf @ 11:28 AM (3985 views)
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1. libertas said...

This is clearly due to the introduction of the Community Infrastructure Levy, which has high taxes based on the square meterage provided. A major mis-calculation that will cause plummeting building rates. The higher levy levels in higher demand areas will also drive developers to build where people do not want to live.

The 20% discount for first time buyers is the government basically paying their Community Infrastructure payments so that the builder does not have to pass it on. They could instead cancel the tax and return to the tried and test s.106 system.

Wednesday, August 26, 2015 12:34PM Report Comment

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