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Concern over new-build shortfall

Three and four-bedroom detached houses are still the most common types of properties being built in the UK, research from Halifax reveals.

Wales and East Anglia have the greatest number of detached houses being built whereas detached homes in Greater London account for less than 1% of new builds.

Flats are the main type of new build in Greater London with approximately two-thirds being apartments.

The research also shows that if the current level of house building is not increased in London and the South-East there will be a cumulative shortage of around 500,000 dwellings in those regions by 2021.

Overall, the number of new homes is not keeping pace with the growth in demand. Growth in the number of households in the UK has been a little over 200,000 per year, meaning that house building has not kept up with the number of new households on average. However, in much of the north of England, Wales and Scotland the number of homes being built has generally been in excess of the projected number of households.

Martin Ellis, chief economist at Halifax, says: “New homes remain popular but this shortage of supply will continue to push up house prices and make it even harder for first-time buyers to get onto the housing ladder.”

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