00:00:00
for the first time interestingly the
00:00:02
price of a new home is not at a premium
00:00:05
to existing homes which tells us that
00:00:08
the construction firms are building to
00:00:10
the market they're trying to build more
00:00:12
affordable homes they've decreased the
00:00:15
size of the homes in the last three
00:00:16
years by 6% but there are limits to how
00:00:20
much they can get the cost down and one
00:00:23
of the major limits is land and whether
00:00:26
it's available to build which increases
00:00:29
the availability sites also skilled
00:00:32
labor which is increasingly even over
00:00:35
the last 5 years more expensive the
00:00:38
price of new homes even with this
00:00:40
attempt to make them more affordable is
00:00:42
not affordable we are at 40-year low in
00:00:46
measures of affordability which is why
00:00:49
the Young Generation are having such a
00:00:51
difficulty in becoming homeowners
