UK authorities to allocate land for the construction of 100 thousand new homes

10.06.2011 00:15
Articles about real estate | UK authorities to allocate land for the construction of 100 thousand new homes Companies working in the UK property sector, the Government approved a plan to allocate land for the construction of 100 thousand new homes. This measure is another attempt to support the development of on slowing the pace of growth of the real estate market.

According to the government's plan, under the new building construction companies stand out thousands of acres of land in industrial areas. Beginning of the project, which will create up to 25 thousand new jobs by 2015, scheduled for autumn this year.

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"This is a big step in the right direction - said a leading executive director of Barratt Developments, Mark Clare. - The rapid disposal of the Government of the lands which it owns, it may be a good catalyst for increasing the volume of available land for new homes in the UK over the next five years. "

The British housing market has suffered considerably from the 2008 financial crisis and subsequent recession in the economy, which, in effect, contributed to the stagnation in this sector during 2008-2009.

A slight recovery could be seen in the past year. But the pace of construction and sales remained well below pre-crisis levels.

Chief Executive Officer of Taylor Wimpey Pete Redfern also supported the plans of the Government.

"In combination with the alleged beneficial sustainable development, which is drawn based on the current budget, this is a potential for increasing the volume of construction as-needed new homes in the coming years" - he said.

"As one of the nation's largest landlords, the government plays a crucial role in providing developers of the areas under construction on the needs of the state" - said Minister of Housing of Great Britain Grant Shepps.

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