Responding to David Cameron’s promise to address the problems of first time buyers, Stewart Baseley, Executive Chairman of the Home Builders Federation, says
“The HBF welcomes David Cameron’s commitment to tackle the problems facing first time buyers – not least by looking at ways in which the tax system penalises home ownership and the disparity between demand and supply.
“Young people have effectively had the ladder pulled up by a property-owning generation who preside over a planning system that prevents others from sharing in the wealth and security of the property market.
“The industry is undertaking a range of initiatives to help first time buyers get on the housing ladder, but the real problem is the growing shortfall of houses. If housing output remains at the 2005 level, there will be a shortfall of 50,000 homes every year. The only way of tackling long-term affordability is to increase supply, and this means reforming the planning system to make it more efficient, predictable and responsive to the market.”
Notes for Editors
The Home Builders Federation (HBF) is the principal trade federation for private sector home builders and voice of the home building industry in England and Wales. The HBF’s 300 member firms account for over 80% of all new homes built in England and Wales in any one year, and include companies of all sizes, ranging from multi-national, household names through regionally based businesses to small local companies: www.hbf.co.uk
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