Watch our Managing Director, Paul Mahoney discuss the Government’s new white paper regarding the supply of housing in the UK.
Hi. I’m Paul Mahoney, the managing director at Nova Financial, and as many of you would know, we’re a property and finance advisory company. Today, I’m going to talk to you about the government’s new white paper regarding the supply of housing in the UK.
There’s been a lot of concern about this lately in the media and I think in general. And to put it in perspective, we’ve had supply of around about 150 to 180,000 properties per annum over recent years, with a requirement of 300,000, so we’re only supplying around about half of what’s required, and this has been blamed for a steep rise in housing prices, especially in London and the Southeast. My opinion on this is the government should incentivize landlords and property investors to invest in new-build and off-plan properties. It’s a policy that’s being implemented in, in Australia to some success, as well as incentivizing overseas buyers in the UK. This will really inspire new supply in the market, it will fund new supply in the market, as the government can only fund so much. The rest needs to fall to the private sector.
If anybody has any questions about this, or would like to explore investing in property, please do get in touch.