“The shortage of homes was leading to a vicious circle as owners delayed selling up because they could not find homes to move into. People are not moving at the moment, mainly because they can’t,”
“They are worried that they won’t find anything that they want to buy, and this concern goes all the way up the chain.”
“House prices continue to rise mainly due to supply constraints.”
“It is welcome news that private sector house build starts in England recently increased to the highest level since 2008, however it will take 18 to 24 months between getting these properties out of the ground and for someone to move in.”
“It is welcome news that figures showing private sector house build starts in England increased by 10% between quarter two and quarter three, to the highest level since 2008, however what we have to bear in mind is the time lag.
“It will take 18-24 months between getting these properties out of the ground and for someone to move in.”
‘The news about the Funding for Lending scheme being diverted from homebuyer loans, shows The Bank of England is now paying attention to what is happening in the market more closely.
‘Mark Carney [governor of the Bank of England] is starting to be the wise voice of the home-buying consumer on the street, in an effort to ensure buyers don’t over-stretch themselves. It may also be an indication that he might increase his sphere of influence further and possibly into controlling loan to values, as he did in the past, in Canada when he was in charge there.’