The Home Builders Federation (HBF) have said that there is a shortage of almost one million homes in the UK which threatens to create a housing crisis. Their research also revealed that only 124,000 homes were built last year, the last time that few homes were built in the UK was just after the Second World War.

The HBF report put the problem down to the recession and the static Construction Industry, stating that nearly five million people are on housing waiting lists and many are having to choose rented accommodation or live with parents because they can’t afford to buy a property. Of course, there hasn’t just sprung up 5 million people, the shortage is not down to a lack of properties but a lack of properties on the market and a lack of credit available for buyers. With repossession properties staying with banks and not being sold and sellers holding off till after the General Election, the market is at a very slow point.