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U.K. Home Building Picks Up But Still Below Past Peaks

The pace is increasing, but long-term housing shortage persists

As British Prime Minister Theresa May tries to woo disenchanted voters by helping first-time buyers get on the property ladder through a government program called Help to Buy, a look at the pace of homes being built shows how difficult her task actually is. The program, started in 2013 and targeted for a cash injection this year, was supposed to encourage builders to build and buyers to buy newly built homes. Yet construction of new homes by private builders is still running below previous highs.

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