Let’s get Britain building!

Housing is currently at the very top of the political agenda. All the main parties now acknowledge that we face an acute housing crisis and need to increase supply. Over the past two years things have improved. All indicators are that there has been a steep increase in the number of homes being built. Output has risen from 110,000 homes a year to 130,000-140,000, the steepest increase for 40 years. But we are still a long way from delivering the 230,000 homes a year the country needs. Issues and solutions The short-term problem has been mortgage availability. Following the economic crash of 2007/08 people simply couldn’t afford the deposits required to secure a mortgage and if people can’t buy, builders can’t build. The longer-term constraint has been the planning system. It has not delivered enough land for the number of homes the country has needed for decades. We now have a Government clearly committed to increasing the number of homes built. We have pro-development policies introduced by the Coalition and new Conservative administrations – and indeed the Labour one before them. The improving economy has seen mortgage availability increase; whilst the Help to Buy scheme that allows buyers to buy…