With publication of the Housing White Paper imminent, Dave Sheridan, CEO of Keepmoat, sets out the company’s formula for improving housing supply and affordability:
Market diversification: “It won’t be the volume housebuilders using traditional construction methods that achieve the expected change in housing supply. We don’t need more freedoms and market stimulations that inflate land banks, but leave build-out rates largely unaltered.”
Self-delivery by local authorities: “Councils across the UK are desperate to take control of supply and start building homes. We are seeing the green shoots of homebuilding by councils. Those partnerships and joint ventures, which are already bringing homes out of the ground, need support. Relaxation of Housing Revenue Account borrowing restrictions would be a good start.”
Modular homebuilding: “Modular homebuilding could be a game changer. Modular can deliver more homes at better quality and at speed. It promises additional output, over and above traditional construction methods. It offers benefits for communities in terms of land viability, low disruption, the environment and local economies. The Government must underpin demand to secure investment in new factories in the UK. It needs to do that by ring fencing a proportion of the grant awarded for new homes and fast-tracking procurement through the HCA.”
Starter Homes: “Starter Homes promise to be a positive addition to the supply of new homes. We see Starter Homes as increasing and complementing the delivery of new affordable homes. In some cases they will help deliver what are currently non-viable sites. What they can’t be allowed to do is send us back to the drawing board for developments already in progress.”
Private rented sector: “There is demand for high quality rented accommodation. Newly built homes in the private rented sector, supported by institutional investment, will relieve pressure on the market and improve the range of affordability of housing options.”
Retirement living: “We mustn’t forget the needs of older people who need affordable move-on or rightsizing options. Help them to move to appropriate accommodation and you will create valuable fluidity in the market.”
