Housing minister Grant Shapps has welcomed the implementation of a new partnership between the Government and the National House Building Council (NHBC), but says more is to come.
The new agreement will see both the Government and the NHBC gain greater insight into how efforts to improve construction levels across Britain are boosting UK communites. As part of the deal, ministers will gain access to information on housebuilding in the UK, with the NHBC currently providing warranties for over 80% of the UK's new-build homes.
Mr Shapps believes that the new deal will allow the Government to gain further understanding of the house-building process and how it can help serve the UK's property needs. The move comes in the wake of the new £400 million Get Britain Building Fund aimed at restarting stalled developments along with the new Mortgage Indemnity Scheme for first time buyers.
However, the housing minister believes these measures are just the beginning of a long process in boosting the UK residential property market. "There's always more to be done and that's why I'm asking the experts to help us know exactly how the market ticks," he said. "Today's new partnership will broaden and deepen both our understandings of cause and effect in the housing market and bring new ideas and insights to the fore."