Ahead of the Prime Minister’s expected announcement on increasing the supply of affordable social housing, the Home Builders Federation have published a report which highlights the ways in which the Government can enable private-sector developers to help solve the lack of affordable housing.
The key recommendation is that low-cost market housing, which already makes a significant contribution to meeting demand without any need for public subsidy, should be included within the Government’s definition of “affordable housing”.
Commenting, Paul Pedley Executive Deputy Chairman of Redrow and Chairman of the HBF’s Affordable Housing Policy Group said:
“The missing piece of the jigsaw for affordable housing is enabling private companies to build more low-cost market housing. Young people do not want a black and white choice between social housing and private housing they cannot afford to buy. Most want to get onto the home ownership ladder by accessing affordably priced market housing.
“By implementing these measures, including bringing forward more land with planning permission, the Prime Minister can cement his place as the champion of the aspiring homeowner.”
Other key recommendations from the HBF to improve the supply of low-cost housing include:
Increasing the supply of land with implementable planning permission – between 1997 and 2003, the amount of land being brought forward for development fell by 7%.
Keeping the demands of Section 106 agreements to an appropriate level, to avoid the risk of slowing the pace of new private development.
Recycling the capital receipts of ‘right to buy’ to provide ‘affordable housing’ to replace lost stock.
Ensure the Government speeds up the release of surplus public sector land, as well as continuing to subsidise public sector land to increase the supply of ‘affordable housing’ at below market prices or rents.
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Notes to editors
1. The Home Builders Federation (HBF) is the principal trade federation for private sector home builders and voice of the home building industry in England and Wales. The HBF’s 300 member firms account for over 80% of all new homes built in England and Wales in any one year, and include companies of all sizes, ranging from multi-national, household names through regionally based businesses to small local companies: www.hbf.co.uk
For a copy of the report, and all media information, please contact:
Paul Boulter
0207 421 6140
07814 506 378
paul.boulter@portlandpr.co.uk