New homes for sale at record low in'nightmare scenario'
News Category: Industry News
Published: 23-Aug-2010
The number of new homes listed on property portal SmartNewHomes has fallen to a record low.
Steve Lees, marketing director of SmartNewHomes.com, which claims to have 80% of market share, said: “CLG Secretary Eric Pickles was quick to sweep away the Regional Spatial Strategies that formed the basis of the previous administration’s housing policy.
“In its place, however, is a policy vacuum – a nightmare scenario for the industry.
“The result has been a dramatic decrease in the number of new homes coming on to the market. The figures for July show a new record low in the number of new homes for sale for the second consecutive month.
“With a consultation paper not due out until late October at the earliest, and primary legislation unlikely to receive Royal Assent before November 2011, housebuilders are increasingly concerned about how they can be expected to operate, given the total lack of any planning policy framework.”
He said that the planning issue has the potential to seriously destabilise the new homes market.
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