Housebuilder David Wilson Homes has announced plans to develop 551 new homes in Cornwall and Devon which should go long way towards helping to solve the local housing crisis.
According to the National Housing Federation, less than 60% of the new homes needed are being developed across the greater South West.
David Wilson Homes, part of Barratt Developments, said it has responded to increasing demand for homes across Devon and Cornwall, by revealing plans to develop seven new residential schemes in Exeter, Plymouth, Newton Abbot and Ermington.
The company believe that demand from homebuyers will continue to grow on the back of improving mortgage lending conditions.
Speaking at the launch of new homes at Hillside Gardens in Pinhoe, Exeter, this week, Mark Clare, chief executive at Barratt Group, told the press: "The good news for homebuyers is that the mortgage market is now improving and we are expanding our business.
"Customers have been locked out of the market by the need for a huge deposit and it's great news that this is finally changing - customer interest is the strongest I've seen for five years.
"There is a chronic shortage of new build homes, particularly detached family homes in Exeter."