Fastest ever increase in output - HBF report
A report from the Home Builders Federation (HBF) has shown that the construction industry has delivered the fastest ever increase in output and is on track to exceed a million new homes by 2020.
According to the satisfaction report from the HBF which received 50,000 responses, housing supply is now above the previous highest levels of the 1950’s and has increased by 74% in the last four years. Additionally, build quality has improved and private sector builders are providing 50% of affordable housing and support to the Help to Buy scheme. This adds to the fact that training and employment within the construction industry has increased to record numbers.
Stewart Baseley from the HBF spoke at a conference this week and spoke of how the industry is reacting decisively to the targets set out by the government to build 300,000 homes per year. He wants the government to continue working with the industry to create mutually beneficial goals. In particular, the HBF would like to see confirmation that the Help to Buy scheme will continue as it has been central to the increases seen.
Other reasons for the increase could be down to changes in the National Planning Policy Framework which have netted 217,000 new builds in the year to April 2017, making the goal of 1 million additional homes between 2015 and 2020 seem more attainable. 350,000 planning permissions were granted during the last year and despite a lag, there are clear links between the number of permissions granted and the actual increase in building projects. This planning permission increase represents a 20% improvement on the previous year, however, the number of sites fell, showing that larger sites are being given priority.