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HBF supports Building Britain's Future housing proposals

30/06/2009 16:59:25

The HBF has announced its support for Gordon Brown's proposals to start building thousands of new homes in a matter of months.

The Home Builders Federation (HBF) has welcomed plans to build thousands of new homes, but warned that action needs to be taken to ensure that mortgage lending is freed up.

Comments from the group followed the publication of the Building Britain's Future strategy yesterday (June 29th), in which Gordon Brown earmarked £1.5 billion for investment in new housing stock.

Around 20,000 new affordable, energy efficient homes are due to be built within the next ten years, while the private sector is expected to create an additional 10,000 homes.

The funding is also expected to create around 45,000 jobs in the UK construction industry while also kick-starting work on mothballed developments.

Stewart Baseley, executive chairman of the HBF, said that the investment is welcomed and must now be allocated and distributed as quickly as possible.

"However, ensuring the banks restore some sensible levels of lending is paramount if any boost is to be sustainable," he added.

Written by Ashley Brunskill ADNFCR-1903-ID-19243392-ADNFCR