Three million extra houses could spell trouble for home owners
The UK could be set to see a number of new housing developments thrown up over the next 12 years.
The government intends to have an extra three million homes built by 2020 – a fact that will only make things more difficult for those looking to sell.
With this in mind some may like to take pre-emptive action and add a conservatory or kitchen extension to their property to make it more appealing to potential buyers when the time does come to sell.
Gordon Brown recently met with representatives from the construction industry to discuss plans for building new homes.
The Federation of Master Builders (FMB) used the meeting to ask the prime minister for assistance with further VAT cuts, FMB director general Richard Diment explained.
"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."
The government is likely to take that action following the news that the House Building Council recorded just 23,185 applications to build homes in the public and private sectors in the three months to September 30th – a 54 per cent drop from the previous year.