Shortage of new homes forecast

Pacific Continental Fund Management today said that the shortage of new build properties is more acute than previously thought. The number of new households in England is forecast at 223,000 per year for the next 20 years compared to earlier forecasts of 209,000 year.

Peter Phelan, Fund Manager, Pacific Continental Fund Management, says: "This shortfall, coupled with the immediate shortage of new and second-hand properties for sale will continue to drive up property prices. In turn, rising house prices and pressure on householders' finances is driving further demand for buy-to-let property.

"These market conditions put the Skylight fund in an optimal position, offering individuals the opportunity to invest in bricks and mortar while being protected from the extremes of property price fluctuations. In March, the fund returned 1.13% in GBP - culminatively, growth since the fund's inception amounts to 65.87%."

The main objective of the Skylight Capital Build-Up Fund is to achieve medium to long term capital appreciation by investing in distressed residential properties in the UK.

Skylight Capital Build-Up Fund invests in residential property in the north of England, the fund strategy focuses primarily on buy-to-let in the first time buyer sector of the market. Current Assets Under Management are GBP 31.68m.