"The government has restated its promise to build 1.5 million new homes by 2029, calling the target "stretching but achievable" amid growing doubts from economists and developers. Officials argue that new planning reforms will boost construction to its highest level in 40 years and add £6.8 billion to the UK economy. They say the OBR's current forecast doesn't yet include measures such as the Planning and Infrastructure Bill, the National Housing Bank, and the £39 billion Affordable Homes Programme and New Homes Accelerator scheme."
"The Office for Budget Responsibility (OBR) predicts only 1.3 million homes will be built under existing reforms unless unforseen changes are made. However, the government have said they will "leave no stone unturned to build the 1.5 million homes this country desperately needs" and will explore fresh planning permission laws, new investment and local partnerships to help close the gap."
Officials insist the 1.5 million new homes target by 2029 remains achievable despite the OBR forecasting about 1.3 million under current policies. The OBR estimates existing reforms will add around 170,000 homes over five years, reaching just under 1.3 million by 2029-30 and warns of uncertainties including local opposition, capacity constraints and delivery delays. Government plans include planning permission law reforms, the Planning and Infrastructure Bill, a National Housing Bank, and a £39 billion Affordable Homes Programme and New Homes Accelerator to boost supply. Housing Secretary Steve Reed has met major developers and struck an emergency deal with the Mayor of London to accelerate affordable housing.
Read at Homebuilding
Unable to calculate read time
Collection
[
|
...
]