England housing shortage due by 2010
At least a quarter of a million new homes need to be built in England each year to keep up with the growing populace and with house building at an all time low plans now need to be made to avoid huge shortages.
This is one of the subjects currently under discussion at the Labour Party conference. Unless public investment is enouraged in private and social housing there could be severe penalties ahead for the country resulting in mammoth housing lists and already struggling first time buyers.
The homeownership market has started to show encouraging sgns of improvement. However the recession has meant that many new house building projects have either been postponed or cancelled altogether during 2009, as a result of this and other economic constraints house completions are estimated to be less than 100,000, a deficit of more than 39% from the recent pinnacle.