Future is bleak
IT will take a lot more than one-off funding from the Government’s Critical Infrastructure Investment Fund to create any lasting uplift on house-building in York.
It is not simply “high infrastructure costs” or the “national economic crisis” that deters the private sector from committing to a major programme of building. There is a fundamental underlying cause of onerous regulations and excessive obligations introduced over the past 15 years which is the root cause of the problem. Nothing less than a wholesale clear-out of these crippling burdens will get house-building levels anywhere near what they were before the crash.
Some house-building company bosses, with an eye on share prices and their own career prospects, are bravely talking up alleged improved performances.
But an honest analysis of published results over recent years reveals massive overall financial losses and an alarming contraction of the industry. Anyone who believes that a housebuilding recovery is just round the corner needs to think again.
The future is very bleak indeed; whether or not the Government comes up with special finance for large stalled sites in York.
Matthew Laverack, Lord Mayor’s Walk, York.
Comments are closed on this article.