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The NHF (National Housing Federation) are giving out figures showing that new build homes in England are set to slump by 50% on last years figures.They state they only expect around 70,000 homes to be built during 2009 – 2010, that being only half the 140,000 properties that will be built this year. These figures are the worst since 1921, (Excluding years during 2nd World War).

These figures are released at more or less the same time as the RICS (Royal Institute of Chartered Surveyors) stated that house sales were at their lowest levels between December and February this year, that’s a new 31 year low.

“Around two-thirds of the homes will be built by housing associations, as private builders suspend developments until the market picks up”, NHF states.

This further cements the worsening Property Market in the UK and a very bleak outlook for 2009 and beyond. With self builders, house building companies and first time buyers all out of the picture it points towards increased property price falls. First time buyers are finding it near an impossibility purchasing as Bank’s lendings have become more difficult to obtain.

The average property price figures due soon also will no doubt show a downturn as the recession starts to take grip.