Decrease reported in new-build projects

Landlords who are looking to add to their portfolios with new-build properties could be among those to be interested in the result of a recent report.

Some landlords may find it more difficult to locate such properties as the latest Glenigan Index has revealed that new construction projects have decreased by eight per cent last month, when compared to January 2008.

According to the report, the value of new starts in private housing fell by 20 per cent in the 12 months to January 2010.

The Home Builders Federation (HBF) said the figure was evidence that challenges in the mortgage market were proving to be blocking new developments.

Steve Turner, the organisation's head of communications, said: "We have got a long way to go before we can start talking about a recovery and the prime driver behind that has got to be the return of mortgage availability.

"Until people can borrow money at competitive rates, you are not going to see a sustainable recovery because if people can't buy homes then developers aren't going to build them."

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