More New Homes Being Built to Stimulate Housing Market

It was an on-line, on TV or in newspapers, real estate market seems to be headline news every week. It is not surprising really. Great Britain is still struggling to get back on its feet after the recession and the health of the real estate market is used as one of the main indicators for the health of the British economy as a whole, so people are watching it closely by politicians and house to house builders and prospective buyers.

So, unless you were hiding in a cave since 2007, you'll know the real estate market is in dire straits. Prices have stagnated, and in some cases falling, mortgage lending is drying up and the construction of residential buildings was down to its lowest level since 1924. This means that first-time buyers and people hoping to enter the council house feels quite cranky. Private accommodation on the market is feeling the pinch too, according to a country property agent has a 5.5 prospective tenants at each property

However, there might be good news on the horizon for one. Construction sector has helped us is the power of the recession and as a result, for the first time since 2007, has increased the number of new houses being built.

In the second quarter of 2010, the community and local government groups, the number of new houses started to be increased to 28 590, the healthy growth of 13%. What is even more encouraging for low-income households is that this increase, 17% were built by registered social landlords.

But the council house waiting lists and growing more and more first time buyers are priced from the private sector still needs to be done. Finally the government is taking heed of the warnings. She hopes to address this deficiency with their new homes bonus scheme. Under this initiative, the Government will match council tax raised on every new house for six years to encourage councils to approve more new build homes. extra money earned from the scheme can be used to neutralize the negative side effect of building more assets and to finance development, such as swimming pools or to improve the city center.

Many private sector ownership of the building companies are already integrating affordable housing in their building projects such as Kier Homes' developments in Lincolnshire and Peterborough. But these new initiatives the government should do more to improve the lot of first time buyers and families with low incomes who want to rid of the lease.