In which areas should new housing be prioritised?

The Housing and Finance Institute (HFI) has sparked a new debate into which areas in the UK new housing should be focused upon.

Investment

where-should-new-housing-be-prioritised

Where should new housing be prioritised?

Richard Carr, a Poole-based property developer, believes that investment into new housing should be spread fairly across towns, cities and counties in the UK. The Housing and Finance Institute believes more money should be given to councils in districts that are leading the way as they are currently under resourced.

According to the Institute, large cities in the UK receive higher amounts of investment, however they are responsible for only around 30% of new homes.

The HFI’s report found that around 70% of new homes and granted planning permissions are in the district and unitary councils, who are facing resource problems.

“Following the EU referendum, it is clear that things need to change if we are going to succeed in building a Britain that works for everyone. This must include rewarding energetic councils across England who toil to make the housing difference but who don’t have the comfortable cash flow or big balance sheets of the largest cities and housing associations,” HFI chief executive Natalie Elphicke told propertywire.com.

London

The capital is sucking up much of the new housing investment; it has secured almost 100 times as much initial funding that then rest of England, but will only deliver twice the number of homes. The maths simple don’t add up!

The exact numbers are:

  • London = £600m of housing zones allocations will generate 75,000 homes
  • Rest of England = £6.3m of allocations will generate 34,000 new homes

‘If a council can show it is housing business ready, has a good track record and will commit to minimum housing targets, why shouldn’t it get the type of individual deals, powers and money given to the big devolved city authorities,’ said Elphicke.

Richard Carr is please the see that Bournemouth is one of three councils that have been awarded the Institute’s Housing Business Ready status. It’s vitally important that councils use their power to shape their communities and build more homes that are right for their areas.