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Homes Go Fast

Less New Homes in UK Being Built

England’s House Builders Association says that only 110,000 new homes are on target to be built for all of 2008, well below Prime Minister Gordon Browne’s goal. Mr. Browne’s announced target for new homes is 240,000 per year by 2016, while current growth levels are projected at approximately 233,000 new households per year. The government’s goal includes having 3 million new homes constructed by 2020.

Housing Minister Caroline Flint was keeping an eye on the situation, according to news reports in the BBC. “I don’t underestimate the challenge that house builders are facing and clearly the number of homes being built this year has gone down,” said Ms. Flint in an interview with the BBC. She continued, “We’re watching closely to see and listen to different forecasts about what might happen in the next 12 months.”

In 2007, 160,000 new homes were built in England, and 2009 may see an even smaller amount than the 110,000 set for this year. Predictions by the association now have only 80,000 new homes to be completed during 2009. Roger Humber of the House Builders Association indicated that the new home construction industry was in a bit of a slump: “House builders are not going to be starting new sites, they're going to be laying people off, they may even be mothballing sites.”

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