SmartNewHomes

Applications to start new homes have continued to rise in what could reflect a generalised stabilisation, figures show.

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  • Applications to start new homes have continued to rise in what could reflect a generalised stabilisation, figures show. 

    Recent figures from the National House Building Council (NHBC) have relayed encouraging signs for the residential property construction market.

    Imtiaz Farooki, chief executive of the organisation, reported that the Government's housing market pledge may have helped the sector's improvement.

    The Homes and Communities' Agency's Kickstart initiative could also have been a contributing factor.

    "Some positive indicators are emerging, which suggest that the severe downturn in house building may be beginning to turn a corner," she added.

    Although Farooki stated it was "too early" to be calling recovery, anecdotal evidence from developers would suggest conditions are improving.

    The south east and Greater London accounted for a quarter (25 per cent) of applications in the first quarter of 2009, according to the NHBC.

    In related news, business editor at Construction News, Nick Whitten, recently predicted house builders confidence would start increasingly thanks to "encouraging signs" in the residential property market.

    Some information contained herein may have changed since it was first published. SmartNewHomes strongly advises you to seek current legal and/or financial advice from a qualified professional.

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