UK Business Property

There was plenty of housing on offer in the last year.

The quantity of affordable residential property made available in England over the last year was the largest in some 15 years.

New figures from the Department of Communities and Local Government revealed that some 60,630 affordable homes were supplied in 2010-11.

This was five per cent up on the levels recorded in 2009-10 and the highest rate since 1995-96.

Such a boom in the property sector was the result of several contributing factors, such as the 53,380 new-build homes that were constructed over the 12-month period and an 18 per cent hike in the number of new properties put up for social rent.

The statistics could raise many families' hopes of securing themselves a residential property at a reasonable rate – whether through renting or buying.

Richard Barber, a partner in residential sales at estate agency firm WA Ellis, recently said the London residential property market is the most lucrative of all in the UK.

Posted by Tom Baker