Will the Government hit their new homes target?
Some said it was always a very ambitious target, and data made public at the beginning of this month goes to confirm that, with figures from the Ministry for Housing, Communities and Local Government showing the Government will fall short of reaching its 1 million new homes target by 2020.
Predicting the shortfall
Between the time the original pledge was made back in 2015, until the end of last year, 386,160 homes were built. The average number of new build homes now being constructed has increased to an average of 7,235 which results in a forecasted growth figure of an extra 529,950 homes to be completed by 2020. Unfortunately, that leaves the final figure falling short of the one-million target by just over eight percent with 84,000 fewer homes being built.
What’s the reason?
There’s many reasons for the shortfall – when it comes to housebuilding this year, developments have been significantly hampered by the weather. At a time when construction should have been in full swing, the country was hit by the Beast from the East, which had a major impact on development.
There’s also a problem with local authorities lacking the required resource in their planning departments due to budget cuts over the last few years; this in turn has had an impact on the public sector’s ability to plan and design new schemes or to engage with private developers.
New Housing Secretary
The end of April saw the appointment of the New Housing Secretary, James Brokenshire who takes on the role of Secretary of State for Housing, Communities and Local Government, and one of his first statements was to pledge his determination to get Britain building the homes our country needs.
He steps into his new position to drive forward the government’s approach to new housing delivery, including the policy changes to the National Planning Policy Framework, where pressure will be put on housing developers to use the land they acquire and ensure new homes are built.
The pressure is on
Yes, the clock is ticking, and more homes are needed to be built faster, across the length and breadth of the country. Back in March this year, the Government announced almost £300million investment in Greater Manchester, Oxfordshire and the West of England for housing projects. As well as much-needed homes, the investment will cover local infrastructure in these areas, such as schools, roads and hospitals. New home delivery is undoubtedly top of the agenda to not only support the local economy but also give more people an opportunity to get on the housing ladder and own their own home.
While the Government moves ahead with their housebuilding targets, here at New Homes Place we have plenty of new homes available across the country – start your search today. Or, if you want to be sent information from us about buying a new home, the latest new homes available and what’s happening in the property market, then sign up here.
