Number of house builds set to fall after record year

THE number of homes built across the country is set to decline this year following a record number of house completions in 2004.

According to construction industry consultants Davis Langdon PKS (DLPKS), the number of new homes to be built this year will fall by 3%, or 2,300, to 74,600. In 2004, 77,000 new homes were built, up 8,000 on 2003.

Though house prices are still soaring, demand is being met by the industry and new homes may fall out of favour with house hunters this year. Changes to stamp duty in the last budget will make it more attractive for first-time buyers to look at second-hand homes.