Press Release

TIMBER FRAME INDUSTRY WELCOMES PRE-BUDGET BOOST FOR FIRST-TIME BUYERS

7 December 2005

The UK Timber Frame Association (UKTFA)  has welcomed the pledge by the Chancellor to help more first-time buyers onto the property ladder through the wider use of 'Homebuy' shared equity schemes.

Phil Key, chairman of the UKTFA, said: "This is a useful extension to the Government's support for affordable housing.  The more first-time buyers we can attract into the housing market, the better for our whole economy. 

"However, we also believe it is important to take a long-term view.  When many first time buyers do manage to get onto the housing ladder they can be faced with crippling costs of maintenance and high fuel bills.  We believe the mortgage lenders and developers supporting this new shared equity scheme should ensure their joint investment goes into homes that are affordable to run, not just to buy, and that retain their value.

"Timber frame homes make a particularly good long-term investment.   They provide quality, precision-engineered accommodation that is fast, efficient and cost-effective to build.  They are durable, and easily adapted for future needs.  Timber frame homes perform very well against all the Government's building regulations and aspirations for sustainable construction.  Mortgage lenders like timber frame construction – it satisfies all their key concerns about saleability, marketability and asset value.  And from the home owner's point of view, new timber frame homes are extremely well insulated, which makes them energy efficient, comfortable to live in, easier to maintain and cheaper to run."

UKTFA statistics show that timber frame housing is increasingly popular among house builders, developers and the general public.  Its market share grew by 18% in 2004, compared to a 7.4% increase for all other methods of construction. Timber frame housing now has a 17% market share in the UK, and one in six new homes is now timber frame. 

In a separate announcement by the Office of the Deputy Prime Minister (ODPM) this week, it was noticeable that all of the latest round of winners in the '£60K Home' Design for Manufacture competition have chosen to use timber frame systems.

The UK Timber Frame Association (UKTFA) is the trade association for UK timber frame manufacturers and the sector's key suppliers. Established in 2002, it now represents  the interests of over 80% of the timber frame manufacturers in the UK. 

Further information and statistics about timber frame homes can be found at www.timber-frame.org

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