The UK government will miss their own new house building target by more than a quarter, according to a new report.
The Labour government had pledged to build 1.5 million homes before the next scheduled general election in 2029, but an assessment by Ministry of Housing officials says they're likely to come in around 400 thousand homes short.
The UK is facing a chronic housing shortage, with a lack of supply blamed as one of the reasons for spiralling property costs. The average home is now more than seven and a half times the average income.
The government says the necessary legislation has now been put in place to help boost the number of homes being built… but Steve Turner, Executive Director of the Homebuilders Federation says there are cost issues…
IN: "We've seen over…"
OUT: "...add up to."
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