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Commenting on the Government’s residential policy announcements, Guy Ackernley, Head of Residential at JLL in the North East, said: “We welcome the announcement in today’s Budget that the Help to Buy equity loan scheme is being extended to 2020 to get "120,000 new homes built". Help to Buy has proved popular and this extension will help to boost the region’s housing and construction markets."Guy continues: “The pent up demand for housing is significant in Leeds and I would reiterate the biggest challenge is to encourage further development in the city to service the increasing demand and ensure that prices don’t become unaffordable.”JLL estimates that more than 43,000 new homes must be built in northern England every year to keep pace with demand, though just half this level is currently being completed. The highest number of additional homes needed is in Yorkshire and the Humber, with JLL forecasting that 18,000 new homes are required every year.
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