A balanced long-term strategy is required to solve the UK housing crisis quickly
Following today’s budget announcement, Stephen Pratt, Group Land Director at Godwin Developments, said:
“We welcome the Chancellor’s ambitious plans to support the economy and invest significantly in strategic infrastructure over the next five years, including roads and railways, such as the ground-breaking HS2 project.
“The budget is a compelling confirmation that the UK government is committed to ensuring long-term economic prosperity whilst bringing balance throughout the country by creating opportunities and providing support for both individuals and businesses.
“The £12bn extension of the Affordable Homes Programme and the social housing interest rate cut for local authorities announced today are important components in addressing the UK’s housing crisis. The £1.1bn allocation from the Housing Infrastructure Fund to build 70,000 new homes in high demand areas is also a step in the right direction and we are delighted to hear that the government has pledged £400m towards the repurposing of brownfield sites across cities and towns.
“Affordable homes are high on the national agenda because the UK has been experiencing a housing crisis for years, which is fuelled by our growing population, rising urbanisation and increasing house prices.
“If we are to find a sustainable long-term solution to the housing emergency, a policy that focuses on home ownership, private rental properties and affordable housing is required.
“As a national developer with experience across a range of residential sectors, we believe that a more balanced approach is necessary – one that includes ownership as well as support for the creation of high-quality rental properties, whether at market or affordable rates.
“It is possible to build more higher standard properties in towns and cities where people want to live and work – homes that are safer, more environmentally sustainable and address the national target of 300,000 new homes per annum.
“For this target to be achievable, we need a significant increase in resources across planning departments throughout the country – we noted the chancellor’s comments on new measures to bring the planning system into the 21stcentury and we look forward finding out more details tomorrow. We hope these reforms will facilitate a faster approval process and an equal footing for rental and home ownership developments, so that together we can successfully – and quickly – regenerate industrial wastelands into thriving communities.”