News

More conservatories due to lack of mortgage availability?

 
14 February 2011

Housing supply is a serious problem for people in the UK, which could see some build extensions and conservatories in order to cope.

Steve Turner, head of communications at the Home Builders Federation, noted unless lending is relaxed the situation is not going to get any better.

He was speaking after Glenigan reported construction project starts for the three months to January 2011 fell by 28 per cent when compared to the same period a year ago.

"Housing supply is hugely reliant on the supply of mortgages and we have seen mortgage availability dramatically reduce, such that first-time buyers have dramatically reduced in number over the past few years," Mr Turner observed.

For those who are in the position where they cannot upgrade their house, then a conservatory may be one option that appeals to them.

It can be used as an extra living room and could be ideal for expanding families who do not have the means to move to a bigger property.

Posted by Cheryl Stevenson
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