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Today’s transaction figures demonstrate the nascent ‘Boris Bounce’ which boosted the property market in January and February. In today’s world, this seems like a distant reality and we expect the months that follow to tell a very different story.

The plans announced today by Housing Secretary Robert Jenrick are comprehensive and far ranging – which may be the stimulus needed to throw off England’s housebuilding torpor.

No one could accuse the nation’s housebuilders of giving us too much of a good thing. Right across the board – from the private sector to housing associations, and local authorities – building figures have plateaued. Except for a brief spike in late 2018, completion numbers have not approached the 50,000 milestone since the global financial crisis.

The housing ladder needs some more rungs. It’s all very well saying that anyone can buy but when the percentage of homeowners has stood still since 2013 it seems clear navigating the housing ladder is too precarious for most people to do so safely.

Andy Sommerville, Director at Search Acumen, comments: “The end of the decade can’t come soon enough for those in the housebuilding trade. Since the financial crisis we’ve seen rates of planning applications flat line for nearly a whole decade.”