The Home Builders Federation has released figures showing that 400 new homes have been reserved through the NewBuy scheme since its launch nine weeks ago in March.
This figure comes as statistics show a 15% fall in the number of housing starts in the first quarter of 2012, compared with 2011. Over the first quarter of this year 24,140 new builds were started. Around 60,000 are needed per quarter to meet housing demand.
Stewart Baseley, Executive Chairman of HBF, who were part of the team that developed the NewBuy scheme said:
“Reaching 400 NewBuy reservations within weeks of its launch is a fantastic start and clearly demonstrates the customer demand for this vital scheme. These figures make us very confident that the scheme will deliver tens of thousands of sales over the coming years.
“As today’s house building statistics show, we have an acute housing delivery problem. By enabling home buyers to purchase a new home, NewBuy will kick-start new home construction, creating economic growth and thousands of jobs across the country.”
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