2011 house sales fell 11%

The UK housing market is still stagnant and sales fell 11% last year to 869,000, according to HM Revenue & Customs has said.

Sales were almost half the level they were in 2007, although they have risen slightly from the record low of 848,000 in 2009.
The problem is a combination of lenders' reluctance to lend money, lack of confidence amongst house-owners and rising unemployment.

Geoff Meen, professor of economics at the University of Reading, told the BBC that the fall reflects several factors.

"If you have very poor levels of credit availability, for first-time buyers and people moving home, you are going to get low levels of sales taking place," he said.

"Given we have very low levels of new construction activity, new transactions reflect sales of new dwellings, so if you have got low starts and completions you are going to get low transactions as well."

The Council of Mortgage Lenders (CML) has predicted that total lending, to both buyers and people remortgaging, will fall again this year, which suggests that sales may fall further.

Original article published here http://www.buildersmerchantsjournal.net/news/news.asp?id=8315

Strong line up for HBF conference

A strong line up of speakers will address this year's HBF Policy Conference which will debate "The Government's Housing Strategy - can it deliver?"

Homes and Communities Agency chief executive Pat Ritchie will speak on the various initiatives underway to help the industry build, while Council of Mortgage Lenders director general Paul Smee will look at the imminent mortgage indemnity scheme.

Sir John Harman will also speak - Sir John is chairman of the Local Housing Delivery Steering Group. His Harman Review is due out soon and is set to look at the viability testing of local plans, required under the new draft National Planning Policy Framework, as well as the simplification and harmonisation of local standards.

The Conference - in London on Tuesday March 13 - will also include a Panel of experts to discuss and debate the NPPF and Localism as well as a look at Community Infrastructure Levy arrangements.

As ever, HBF director of economics John Stewart will add his expert view on the economy, the market and industry issues.

To book go to www.house-builder.co.uk

For all the latest housebuilding news and events visit www.house-builder.co.uk Thanks to HouseBuilder magazine

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