HBF: Property problems will continue

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HBF: Property problems will continue

The property market will not improve unless more affordable new housing is built, the Home Builders Federation (HBF) has said.

According to the director of external affairs at the HBF, John Slaughter, the "imbalance of supply and demand" must be resolved in order for the housing market to recover.

House values will remain high unless more new homes are constructed, Mr Slaughter commented, adding: "The affordability problem that exists would certainly continue and potentially get worse."

If there is a housing shortage the entire economy could be affected, he warned.

Claiming that mortgage holders may struggle to find new property if they have to move for a new job, Mr Slaughter suggested as an example.

Mark Clare, the group chief executive of Barratt Developments, recently told weekly magazine for property professionals Inside Housing that a housing shortage could continue for some years.
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