August 13, 2007

600,000 homes built for immigrants

This figure may seem huge, which it is. But the amount is the ten year figure and relates to approximately four out of ten new homes built since 1997 (When Labour first came to power!). These have been needed to house immigrants. The figures are three times the amount needed under the conservatives.

The figures speak for themselves in the years 1992 to 1997 there were 19,000 homes purchased by immigrants, but in the years 1997 to 2005 this figure had grown to 66,000 per year.

The significance of these figures relates to the actual house prices, everyone who owns property wishes to see the values increase, however this has priced many first time buyers completely out of the market all together.

Yet even with the government’s plans to build 3 million new homes by 2020, it is estimated that around 1.4 million of these will be bought by people who are yet to move to this country.

Source [Hot Property Investor]

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