HBF dismisses new build concerns

Suggestions that new build properties are losing value should be reassessed in light of local market dynamics, the Home Builders Federation (HBF) has suggested.

The federation has said that the oversupply of a particular type of property is something that affects all kinds of regional markets but should not be taken as a sign of tendencies developing across the UK as a whole.

The government plans to build three million new homes by 2020 in an effort to combat housing shortages, but even this will not be enough to meet demand, according to a report published late last month by the National Housing and Planning Advice Unit.

"If there is a problem with prices it would be a reflection of that market supply and demand situation for that particular type of accommodation in that particular market, rather than a more general issue about new homes losing their value – that's not the general position, they're not losing their value like that across the country," said HBF spokesperson John Slaughter.

"It's really a question of what a local market situation for a particular type of product is, rather than something generic about new homes losing value," Mr Slaughter confirmed.

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