Bsria has welcomed the government White Paper on Housing setting out the government’s preferred strategy in tackling the country’s housing crisis. As described in the White Paper, 225,000 to 275,000 (or more) new homes per year will be needed to keep up with population growth and years of under-supply. That could translate into almost one million new homes built by 2020.
Among other issues, the White Paper discusses the role of the local authorities in delivering higher housing volumes, potential changes in the way planning permissions are granted, new and innovative accelerated construction processes, the need for supply chain improvements and also addresses quality and sustainability.
For private developers, in line with the recently released industrial strategy, Government aims to boost productivity, innovation, sustainability and skills by encouraging modern methods of construction in house building.
Government also expects builders and developers to take responsibility for investing in their research and skills base in order to create more sustainable career paths and genuinely bring forward thousands of new skilled roles.
For housing associations and other not-for-profit organisations, Government has already announced funding worth a total of £7.1bn through an expanded and more flexible Affordable Homes Programme. More clarity over future rent levels is also expected soon. The current Parliament will strongly focus on the delivery of more affordable homes.
For lenders, institutional investors and capital market participants, Government is offering a clear and stable long-term framework for investment, including properties for rent. In return, it will call upon lenders and investors to back developers and social landlords in building more homes.
For utility companies and infrastructure providers, Government is exploring an improved approach to developer contributions to help pay for new infrastructure.
