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Leading local estate agent Aston Mead has welcomed latest figures indicating house building in Britain is increasing at the fastest rate in more than a decade.

The statistics come from the Chartered Institute of Purchasing and Supply, which says that the housing market in July was so buoyant that it propelled the construction industry to one of its best performances since before the recession.

Aston Mead Director Charles Hesse said: This is the news that house builders have been waiting to hear for over a decade. It’s been fuelled by two things: firstly, more favourable funding conditions - particularly for medium-sized developers - and secondly, a genuine, strong demand for new housing. As a result, we’re seeing dozens of much-needed new homes being built in places like Sunningdale, Weybridge, Esher and Ascot.”

The severe shortage of new-build property in the UK has prompted fears of an unsustainable price boom, with the construction industry still some way off building the 240,000 homes a year the country needs.

Charles Hesse added: “The figures do suggest that house builders are responding as quickly as they can to the desperate need for homes, in order to calm fears of another housing bubble. Of course, it goes without saying that we have to place the developments carefully, so that the local infrastructure can cope. But the truth is that there’s simply not enough houses being built to satisfy demand.

“So this is a trend that needs to be sustained. Less than 60% of the new homes this country needs were built last year – putting a massive upward pressure on UK house prices.

“In particular, councils need to release land for affordable homes, so that we can increase the number of cheaper properties available out there. And as new home development has the effect of lifting the value of everything around it, it’s a win-win situation for all concerned.”

 
 

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