Government target fears grow
The future of the UK property industry will, to some extent, depend upon the provision of new homes. Partly, of course, this will be a result of old homes needing to be replaced and new ones put in their place. But the supply of homes and its ability not only to meet demand at any given time but also adjust to future demographic requirements will be an
With trends such as smaller families, immigration, the flood of professionals to city centre apartments and the growth of buy-to-let, such developments have already had their effects on the property market and also the building industry, with the growth of apartment building in provincial cities being a prime example.
Yet such a trend is market-driven by high demand from people with above average disposable incomes, just as suburban development has been. It is also an area of major property investment as the buy-to-let market looks to rent out homes in sectors of the market with high demand to those who choose not to buy. Such market adjustments and niches react to the requirements of buyers and investors at any one time, not to long-term goals.
The latter, of course, is the concern of the government, with its aims to create more family homes, build in the geographical areas where the demand is highest and plan for long-term expansion to meet population projections running many years into the future.
Figures from the Royal Institution of Chartered Surveyors (Rics) may show just how at odds the short-term sensitivities of the market and long-term grand plans are. While Gordon Brown has set out an aim for three million new homes to be created by 2020, the recent slowdown in the market has, Rics has stated, made this target much less likely to be achieved. The latest research by the body has found that the majority of surveyors reporting a rise in demand for new homes over those reporting a decrease fell from 17 per cent in the third quarter of 2007 to 16 per cent in the fourth quarter.
With less demand comes less building, Rics commented. Senior economist David Stubbs concluded: "Doubts are likely to intensify over the ability of the government to meet its ambitious house building targets. Indeed, it is worth noting that new housing starts have already begun to stagnate in recent quarters."
Mr Stubbs is not alone in this view. Tim Doherty, managing director at the National Self Build & Renovation Centre, said this week that the government had done plenty to encourage the building industry in the last year with measures such as relaxing planning controls. Yet, he added: "However, already behind target, the likelihood of delivering enough suitable, affordable new homes over the next few years is diminishing," since the current situation meant that some house builders were "practically on stop".
Perhaps predictably enough, the suggestion that hopes for the 2020 building target being met are vanishing over the horizon attracted criticism of the government from political opponents, with shadow housing minister Grant Shapps telling the Daily Telegraph: "It is becoming quite clear that the government doesn't have a cat in hell's chance of meeting its targets, either long or short-term." Whether the Conservatives can find a more successful plan is of course unknown as long as they are in opposition.
Of course, there could be good news for the buy-to-let industry in all this. The shortfall in supply could lead to a shortfall in demand later as the housing market recovers, perhaps after a few interest rate cuts. With a continued lack of affordable new homes, there will still be a large number of people looking to buy-to-let to fill the gap that the government, for all its ambitions, will not have been able to fill with brick and mortar.
In today's world Property investment is an excellent investment option especially investment in UK
Jim Barnaby is a real estate investment broker and successful property investment adviser delivering research and selected UK and overseas property investment solutions with experience in spanish properties,holiday home sales, German property, Cyprus holiday homes, France, Spain and Germany holiday homes, Property Cape Verde, buy to let properties.
http://www.assetz.co.uk/
|
|
 |
 |
E-Government Services: Saving Niagara Residents Time and Money
No more "during business-hours only": Busy residents now have a new way to book and pay online for Parks & Recreation programs/facilities or submitting requests.
Government Grants Start Business
Business Grant:Government Grant Money To Start A Nursery Business What are free small business grants? These are grants given by the home state when you need money to start a business or to improve it. All states do not provide free small business grants. The ones that do are Nebraska, New Hampshire, Kansas, New Mexico and Utah. The others usually give you loans or incentives and financial assistance. Some even offer technical training and financing to those who want to start their own small business venture. All it takes to get a free small business grant is a bit of legwork and a little effort.. Also you can find more information at my website which you can get to from my bio box below. Having said that if you are the kind of perso...
Americans Believe Federal Government in Position to Rectify Growing Number of Uninsured
One in three Americans believes obese people should pay more.
Government Futures Sees 110th Congress as Opportunity for IT and Professional Services Firms
Federal IT community must change the conversation, focus on the future.
EM&I Launches ACART to Help Government Agencies Address Enterprise Architecture and Requirements Compliance
New Offering Helps Agencies Compare Systems against Architectures, Requirements and Regulations and Then Document and Report on Compliance Status
Olmert's Recent Announcement and Hamas Torture of Cameraman Highlight Political, Ethical Differences Between Israeli Government and Hamas
Israeli Prime Minister Ehud Olmert's announcement Wednesday that he plans to step down, due to corruption charges, serves as a striking reminder of the democratic nature of Israel. Unfortunately Israel's hoped-for peace partners in the West Bank and Gaza do not share these values: a cameraman working in Gaza for German public broadcaster ARD was reported Thursday as having been tortured in Hamas custody.
Vehicle Tracking Solutions Establishes Government Contract Service Division
Fleet management provider adds a new division which will focus on identifying, contacting and submitting proposals to various local, county and state government agencies.
Young Couple Buys Ranch with Government Money
Kirk and Tina Sczepanik had a dream. They wanted a ranch of their own.
Government Grants Are Hard To Get, But When They Come...
Yes, they are scarce and hard to get, but when they come, they are a great thrust to your business. Not Panacea, but they direct you in the right direction and prepare you for an adequate small business administration. It just takes some thorough investigation and good planning. You will realize that this type of grant has a lot already done for you.
Government Auctions ? Used and sold, no catches.
Government auctions are your answer if you want to drive a Jaguar or Lexus, a car that you have always wanted to own but could never afford. There have been many instances when we have seen a BMW or a Mercedes Benz on the road and they speed away before you can change gears in your car. The only thing that crosses our mind at that point is they must be very rich or a leading personality in the town to drive in such a luxurious car. For all you know, they might have picked up the car at a Government auction for $750 - $1000. Since many are not aware of these auctions, the select few take advantage and benefit from them. Most of the cars at the auction are Government seized cars that might have been brought in by the police or by others who...
Government of Canada and The Royal Canadian Mounted Police Settle Lawsuit with Canadian Businessman Erwin Singh Braich
The RCMP and the Government of Canada who were named as Defendants have settled out of court with Mr. Erwin Singh Braich a Canadian-Born Sikh Businessman.
American Ranching Family Wins 17-Year Battle with the Federal Government - Landmark decision in Hage v U.S. Issued by Federal Court of Claims
An epic 17-year battle between an American ranching family and the federal government has ended in favor of the family. The estates of Wayne and Jean Hage can finally claim a Fifth Amendment precedent-setting property rights victory. The court ruled that the Hages owned the water rights, ditch rights of ways, and range improvements on the federal grazing allotments. The court made clear that the government has the right to authorize grazing, but does not have the right to prevent the plaintiff from accessing their water rights on federal lands. Loren A. Smith, Senior Judge for the US Court of Federal Claims said, "As government seeks to change its policies concerning the purpose and use of public lands, private landowners have a valid c...
Free Government Grants In The US
If you are looking for a way to pay your way through your new business, your schooling, or the purchasing of a new home, chances are you might already be qualified for financial aid. The absolute best type of financial aid is a grant, because grants do not have to be repaid. One of the most important things you can do during your lifetime is take advantage of the social support systems that are there for you.
Panama: The Government
The government of Panama follows the patterns of presidential representative with three branches: the executive, legislative, and judiciary The executive is elected by popular election vote exercise the senior?s citizens for a period 5
Hidden Cost of Translation to the UK Government, More Like £500 Million
BBC report underestimates the cost of translation and interpreting services to the UK Government.
|
 |
|
