Wrong sorts of properties being built in UK

The UK lacks the right kind of housing, according to one property expert.

Rightmove, a property website, says that there is a nationwide shortage of the right kind of properties being built in the right areas.

Too many flats and apartments dominate building plans rather than larger properties according to the experts.

Mike Shipside, commercial director of Rightmove, said: "Flats and apartments make up the majority of new development in the capital due to limited land availability.

"However nationwide there is a shortage of supply of the right properties in the right areas causing demand and prices to remain high."

He added that many people are being priced out of buying a property in London where property price growth is much higher than other regions.

Mr Shipside added: "The average cost of a property in London is now £355,097 and as a result many people have been priced out of buying in the capital."


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