LONDON, UNITED KINGDOM -- (Marketwire) -- 03/08/13 -- The next 12 months are set to see a surge in new homes as confidence in the construction market returns to pre-downturn heights.
Recent years have represented a challenging time for the industry as the global economy has suffered in a decline first triggered by the US subprime mortgage crisis of 2007.
But the revival in non-Euro economies like the UK and US has begun to feed through to the housing sector, with several indicators that 2013 will be a very good year for new-build houses.
In late 2012, for instance, the government announced a series of initiatives designed to kickstart the house-building industry.
These included a plan to intervene in housing projects that had become stalled, with the result that almost 50,000 new homes could start being built this year.
And a spokesperson for Banner Homes, one of the leading builders of new luxury homes in the London area, confirmed that the prognosis for the industry in 2013 was very healthy.
He said: "The last five years or so have been a very testing time not only for those on the housing ladder, but also those who have been looking to buy for the first time.
"Economic uncertainty and the reluctance of many banks to loan money have left many potential house-buyers with no choice but to stay where they are or continue renting.
"It is therefore very encouraging to see the government intervening to help kickstart the house-building industry, especially at a time when there are a number of other positive indicators in the economy as a whole."
Another plan under consideration by the government would see 300,000 extra homes built by pooling local council pension funds to create a GBP 10 billion Local Housing Development Fund.
The fund would be replenished when the properties were sold and would ensure that no extra government debt was incurred.
Since its establishment in 1975, Banner Homes has developed a reputation for the quality of its luxury houses for sale, UK wide but particularly in the Midlands and South.
Its innovative approach centres on building houses that are environmentally friendly, energy efficient and fully adapted to take advantage of technology.
Several counties across the Midlands and South East have Banner houses for sale, London and Birmingham being two of the major cities with properties available.
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