Sellers to look for new ways of competing with 3m government homes
The news that Gordon Brown wants to add around three million new homes to the UK housing market by 2020 could mean sellers may find it even more difficult to attract buyers in the coming years.
The situation may lead some to consider building a conservatory to give themselves a jump on the competition and offer buyers something different for their money.
The prime minister recently met with construction industry stakeholders to discuss the future and Federation of Master Builders director general Richard Diment used the opportunity to ask for assistance in stimulating the construction market.
"I was able to tell the prime minister that the government must provide further incentives to free up the moribund building market," he said.
"With 41 per cent of our members warning that they will be making job losses over the coming months and house building at its lowest level since 1945, the government must take immediate action."
There was a 54 per cent drop in the number of applications to build new homes in the UK in the lead up to September 2008, according to the Home Building Council.
If Prime Minister Brown does take action, it could stimulate the construction market but also make things tough for sellers in the property market.