Estate agency promoting £68m home warns of housing crisis
Published by Max Salsbury for 24dash.com in Housing
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Estate agency Savills has warned that the south of England will be 160,000 homes short within the next five years, unless action is taken.
Following the governor of the Bank of England's weekend comments about the housing market representing the greatest threat to the UK economy's recovery, a Savill's report reads: "The talk of bubbles may be misplaced in a strict sense, but talk of a housing crisis isn't."
Remarkably, Savills' website is currently offering a £68 million flat in London's Knightsbridge.
The five-bed apartment comes with private cinema, library and spa facilities.
Susan Emmett, residential research director at Savills, said: "While the Conservatives have not set a housebuilding target, it has been the coalition government's policy to support the housing market as a mechanism for stimulating consumer confidence, creating jobs and therefore supporting economic growth.
"The general consensus on the need for more homes, however, masks local disagreements over what is to be built where."