Housebuilding held back by high taxes and red tape, bosses warn

High taxes and red tape are holding back house- building, industry bosses warned yesterday.

The Home Builders Federation said ‘huge increases in taxes’ and increased regulation have pushed up the cost of building a new home by, on average, £76,000.

It means ‘development viability’ has overtaken planning delays as the most significant challenge facing smaller housebuilders.

‘The Government must address the growing viability pressures created by the cumulative burden of regulatory costs, taxes and developer contributions, which are increasingly preventing schemes from coming forward,’ the report said.

Slowdown: The Home Builders Federation said ‘huge increases in taxes’ and increased regulation have pushed up the cost of building a new home by, on average, £76,000