New housing minister 'will do more' for the market

18 June 2009

The housing market in Britain requires more transparent investment to increase consumer confidence, one government official has suggested.

Minister for housing and planning John Healey also remarked that property recovery will resemble a "Nike swoosh" rather than an L-shape or V-shape.

He said: "I will set out to do more to make housing investment more visible and more comprehensive. I would expect all of you - agencies, housing associations, local authorities - to do more as well."

Mr Healey, who took up his ministerial position on June 5th, also implied that the current government was doing more to combat the economic downturn than the previous Conservative government did in the country's last recession.

Earlier this week, the Confederation of British Industry (CBI) predicted the UK's recession to be over by the end of the year, with a number of surveys showing the contraction across a range sectors to be lower, including the construction industry.

The CBI also lowered its estimates on the peak figure of unemployment for the beginning of 2010.

By Andy Webber

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