Fixing our broken housing market and what it means for SME housebuilders
The Department for Communities and Local Government has published its White Paper ‘Fixing our broken housing market’. In the white paper the government announces its strategy and commitment to build 225,000 to 275,000 new homes to keep up with the demand and tackle years of under supply.
We have highlighted a sample of some of the assurances that the Government has made:
The government recognises that the current pace of development is too slow; reason for this is planning permission is currently not up to speed, more than a third of new homes that were granted in 2010/11 have yet to be built. A speedier process is much needed to keep up with demand and the government has announced investment in making the planning system more open and accessible.
Currently the market is dominated by large house developers whilst we also need SME housebuilders to tackle the housing crisis. The government is backing small and medium sized builders by its recently launched Home Building Fund. The report also covers improving the availability of data about wider interests in land; a survey has found that SMEs often find it hard to acquire land for instance.
Housing Growth Partnership was also mentioned in the white paper as a new player helping to provide funds to SMEs.
HGP will continue to help SME housebuilders around the country, if you are interested in growing and looking for investment speak to us and find out how we can help.