The National Housing Federation and the Home Builders' Federation have recently reported that almost 600,000 planned ‘affordable’ homes will not be built on time if the political parties push ahead with their plans to cut the housing budget.
The number of homes built in the UK fell to the lowest ever level since 1923 last year, as developers battled with their own financial difficulties and demand from consumers was squeezed by the recession and a lack of finance.
In 2007, the Government said it wanted three million new homes to be built by 2020, with one million categorised as 'affordable.’
At present, 162,000 affordable homes are forecast to be built by next April, 2011. However, the National Housing Federation and the Home Builders' Federation have calculated that if spending is cut by 25%, only 426,000 would be completed by 2020 – which is 574,000 less than what was originally planned – and it would take until 2040 to reach the one million target.
David Orr, chief executive of the National Housing Federation, said: "The Government believes that we need around 240,000 new homes every year. But if the housing budget is cut by 25% the number of new homes being built annually could plummet to just 100,000 homes for the foreseeable future."
Here at Greengates Builders Merchants Accrington, Lancashire we would like to see the country reach their original housebuilding targets of one million affordable homes by the year 2020.