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The price of housing escalated because there is a housing shortage - too many people chasing too few houses.
Ironic isn't it - that house builders are now shutting down building and laying off workers because no-one can afford to buy what they have built.
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I spent some time on a new development site and to be honest for what they were charging for these buildings and considering how they were built its no surprise. The cost comes (from what they told me) more from the price of the land than the actual build but wether that was bull or not I dont know. Up my way housing with a garden and garage go at a premium compared to those of similar/same age area build quality etc. That though raises the question of the cost of housing on former brown field sites. Ok location, amienities, motorway access etc play a part but the question I have is do those that move to the area benifit it?