§ Mr. KidneyTo ask the Secretary of State for the Environment, Transport and the Regions what assessment he has made of the Barclays Bank report concerning shortages of homes to buy. [17161]
§ Mr. RaynsfordBarclays Bank is one of a number of organisations reporting that there are currently more prospective buyers than there are homes for sale. Part of the reason is that confidence in the housing market has returned. Increasing numbers of first time buyers and people in rented accommodation are looking to buy but will have no home to sell. This imbalance is likely to level off as the market adjusts. The Government's planning policy guidance (PPG3: Housing) advises local planning authorities to ensure the availability of a continuous five year supply of housing land to cater for on-going housing requirements.
30Wprior years' figures are not directly comparable. Some of the resources allocated through the Single Regeneration Budget Challenge Fund and City Challenge are used for investment in social housing but this element is not separately identified in the allocations made, and they are therefore not included below.