Supply, supply, supply

"With the cost of building materials having increased so sharply over the past couple of years (assuming that you can even get hold of the materials you need), it's no real surprise that many house builders have mothballed sites and slowed down the amount of work being done. Their profit projections will have all been worked out with lower material costs involved, and they are now faced with a shortage of skilled construction workers who are willing to graft at the rates of pay planned for the original development. Even with a healthy contingency built into the projected costs, I'm pretty sure most sites look nowhere near as profitable as they did when they were started. The nub of the problem is profit. Houses are built in the UK by businesses looking to make money. Lots of money. They are not social enterprises building houses for the greater good. The abject lack of supply suits housebuilders just fine."

"This report tells you all you need to know about why house prices continue to rise. Demand is outstripping supply and will continue to do so when there are extreme shortages of materials and every proposed new development has to smash down a wall of NIMBYism to even get off the ground in the first place."

"With a limited stock on sale, demand is hugely outstripping supply. This is driving up the costs, at the same time as "affordable housing" has not really been the magic formula many hoped. This means that older properties are more in demand than new. With the large developments flooding the south east, houses are being built on greenfield, brownfield and flood plains to try and keep up with demand. And whilst NIMBYSM exists, it really does not make a massive difference as most of the developments will happen, whether they like it or not unfortunately. The main concern is how the infrastructure is going to cope and what the plans are to improve the road networks, medical support and education. What we need is a good portal to complain through."

"This report is damning and a huge sucker punch for buyers. The lack of supply of houses is causing astounding competition for each property on the market and therefore driving prices up. We are hearing from local estate agents that there are at least 25 buyers per property and buyers are desperate to purchase, offering hugely over the asking price, some without even viewing the property. With more and more deposits coming from the Bank of Mum and Dad, some buyers will have much more leeway if a higher deposit is needed, again allowing more competition and higher prices. Until we are building more houses, I cannot see property prices plateauing."

"This is sad, sad news if you are looking at getting on the property ladder. The odds are stacked against would-be buyers and with a lack of stock, prices will only go up further. Something really needs to be done to help Generation Rent. Stamp Duty holidays and government-backed mortgages are all well and good, but if there are no properties to purchase, what's the point?"

"Against the backdrop of Omicron and rising living costs, it's not hugely surprising to see a fall in the number of homes being built in the final quarter of last year. It's a shame, of course, because we desperately need to address the UK's chronic lack of affordable housing. We've been promised a huge ramp-up in housebuilding for years, but nothing seems to change. The bottom line is, property in this country remains massively overpriced. Help to Buy (a misnomer if ever there was one), years of ultra-cheap credit, and the Chancellor's ill-advised stamp duty holiday have seen to that. It's time for a radical rethink about how we view property in this country. You'd think building more houses would be fairly straightforward, but Government ineptitude scuppers that each time."