According to a statement released yesterday by Barratt Developments, Britain is facing a housing shortage due to the inability for construction to keep up with the ever growing demand and rapidly increasing population that will amount to a shortage of 1 million homes by 2015.
Mark Clare, who is chief executive of the company has said that: ‘There is a large amount of pent-up demand. We are building, as an industry, 120,000 homes a year, but the requirement is for well over 200,000.
‘So there is a supply and demand gap opening up quite quickly. We are well short of the number of homes required.’
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