Challenges of Promoting New Builds
New House Builders face a challenge of trying to convince UK home movers that buying new is the way forward. With great improvement in quality over the years, and the numerous other benefits of new builds, such as increased energy efficiency and high build quality, housing developers are encouraging would-be buyers to take a second look.
Unachievable Government Targets
The Government’s plan to build a million homes during the current Parliament is unachievable, according to a recent survey. Many believed that SMEs would be the key to achieving this aim, but planning permissions and access to finance have been the biggest barriers.
Shortage of Bricks in the UK
Even if the Government were able to somehow hit their targets for the number of new houses needed, the shortage of bricks may be the next hurdle. The UK would need 1.4 billion bricks to build the 264,000 new homes required. With the construction industry already facing two-month waits for new brick orders, this is likely to be impacted even further by Brexit implications.
Major UK House Builders Defy Slow-Growth Predictions
Price-drop predictions in the wake of Brexit have yet to be seen, according to the latest Footsie figures of some of the UK’s largest House Builders. A report by Countrywide suggests that growth in 2016 will slow to 2.5% and 1% in 2017. However, Taylor Wimpey and Barratt Developments added 2.41% and 1.84% respectively.
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