FEWER new house builds are making it tougher for buyers struggling to get on the property ladder.
One major developer, Persimmon, said it had almost halved the number of homes it constructed compared to this time last year.
The news comes in the wake of a surge in mortgage rates which have also affected first-time buyers.
Jonathan Rolande, from the National Association of Property Buyers, said although the figures were concerning they were not surprising and signposted a more widespread issue.
He said: “For those trying to get a foot on the ladder, the fact fewer and fewer new builds are coming to market is another barrier to entry.
“But sadly there is nothing surprising about the hesitation to build new properties that may not sell quickly and for the price anticipated.
“Right now, companies such as Persimmon are understandably analysing the potential for plot sales more carefully than ever.”
Mr. Rolande added that the end of Help2Buy will have also had an adverse effect on buyers and warned the market is likely to see fewer and fewer new builds coming to market between now and the next election.
