Housing Crising in Britain

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The Independent It has been claimed by one of the Britain estate agency Savills that the property market of Britain is facing a housing crisis and there is a severe shortage of new houses . It adds that the situation of houses is really getting alarming . It has quoted the remarks of a British governor that the British housing market is in crisis due to serious structural issues in the in the housing sector. The root cause of this problem is no fresh addition of new houses in the housing sector. The statement by Mark Carney about the issue has escalated the pressure on the state to resolve the issue on urgent grounds by making essential reforms in the said sector .In this preview the government has shifted the decisions to the local authorities of England. (The independent) According to an estimate , in the next five years the shortage of homes will touch a figure of 160,000.The area most affected by the housing crisis is London. and it will continue to persist if timely measures are not taken. In London ,14,400 additional houses are required to be built in order to overcome the problem .It has been criticized that if the Republican government did not meet the required number of houses it was responsibility of the following government s to do proper legislation and cope up with the deficiency of houses in England. The coalition government has made the policy to give all the required support to the housing sector which in turn leads to economic growth of the country as well . It also generates employment opportunities for the people. Although there is a local consensus on the need to build new houses but there is lack of coordination that what should be built at which place. Ten years earlier the Labor Party government longed ... ... middle of paper ... ...s scheme in the economy. ix. According to law the British renters have scanty rights as compared with the rest of Europe. The charges of estate agents and credit checks are quite high which makes the renters insecure Actually long term renting trend is more common there so such renters have more rights . If the renters are granted more rights then there will be a decline in requirement for mortgage loans leaving banks to suffer. x. The local authorities plan a restrictive system. There are lot of stages of approval by council levied upon the builders along with a reasonable incident of red tapes on the behalf of bureaucrats. There should be more reforms to facilitate the builders. Bibliography The Guardian. (n.d.). Retrieved May 28, 2014, from http://www.theguardian.com/uk The independent. (n.d.). Retrieved May 28, 2014, from http://www.independent.co.uk/ .

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