The government have decided to push for a housing build of one million homes by 2020. There is currently a supply and demand gap opening up quickly, according to Chief executive Mark Clare. This is due to an increase in single occupancy letters and buyers, life expectancy and second homes. Steps are being taken to ensure the completion of this plan in 2020 and the curing the housing crisis. Land agent Aston Mead argues that the project will need conviction and commitment but doubters should not be concerned as the pledge is at the heart of the government’s landmark Housing and Planning Bill, which received Royal Assent in June.
According to a recent survey, 51% of owners and directors thought this target would not be met. However, several advances have occurred to ensure the completion of the project.
Brownfield sites have been given £10 million worth of funding with automatic building approval. The renovation of disused urban sites will kick-start this new investment. Supply chains have taken on tens of thousands of new workers to ensure the capacity and skill required for this project. By 2019 the big companies will be building double what they did six years ago.
The government provided a £1.2bn starter home fund, which will fast-track the creation of at least 30,000 new starter homes and up to 30,000 market homes on 500 new sites by 2020. This will help deliver the commitment to create 200,000 starter homes over the next 5 years.
The government will hire small, and up-and-coming, companies to build the homes and commission the building of homes on publicly owned land. Currently the top 8 house builders provide 50% of new homes. This approach will support those who lack the resources and access to land and will lead to quality homes being built at a faster rate. These strategies, along with the £1.2billion new starter homes fund, will help thousands of people to realise their dream of owning their own home, expresses Communities Secretary Greg Clark.