Latest UK Market News: Homebuilding rates were failing to meet government targets before the virus
As the UK Housing Crisis continues, the coronavirus pandemic is set to impact these further. The government needs 300,000 new homes every year, but they have failed to meet this target for many years. There is expected backlog of homes is now about 1 million, and unless something drastic happens in the home-building industry, it will take a very long time before the backlog can be fulfilled. Even if the homes built is doubled, that is just enough to meet the annual figures, not fulfilling the backlog.
This is good news for investors, as savvy investors will always buy invest in an industry that has a chronic short of supply and this issue with short supply is unlikely to be fixed in the short term.