The UK Government is looking for one million new homes by 2020 which effectively relates to a target of building 250,000 new homes per year.
Affordable housing is one of the cornerstones of Teresa Mays’s “offer” to voters when she became Prime Minister.
According to NHBC statistics 156,140 new homes were built in the UK last year.
This was further broken down to 118,611 private sector homes and 37,529 public sector homes, with the East Midlands showing an increase of 12% on the 2014 new build figures.
In a recent article written in November by the BBC Economics Editor Kamal Ahmed, Rob Perrins the head of one of the UK’S largest housebuilders Berkeley Homes said the 250,000 annual target will be missed.
Mr Perrins also gave an example of the problems new house builders are facing personified by the Kidbrooke Estate in East London.
The development agreement took 10 years to agree and sign, and there are 800 conditions attached to the planning. This is for a site with 4,500 new homes, of which 1,500 of which will be affordable. The final houses will not be completed until 2030.
The prediction for the next year is a flurry of government activity related to planning permissions and promoting public sector local authority building programs.
Sarah Newcombe writes for BHW New Build the East Midlands new build solicitors.