Welcome back to the Experience Invest blog. Our aim is to keep readers up-to-date with current property market news, and bring you relevant information about the industry. This week a new Housing Commission was launched in the UK by the Local Government Association (LGA). It will ‘explore new routes to housebuilding’ and help councils provide the level of new homes required each year across the country.
Councils keen to find ways to increase housing supply
Although the number of homes being built each year in the UK is growing, there is still a need to increase the number of units. According to the LGA ‘councils built nine times more homes between 2010 and 2015 than between 2000 and 2005’. To meet current demand, 230,000 new homes are required each year. Private developers in the UK contribute just 150,000 homes per annum, and the pressure is on local councils to find more effective ways to increase supply.
Focus will be wider than housebuilding
The new Housing Commission is being led by Town Hall leaders on the LGA Housing Board supported by an expert Advisory Panel. As well as centring on housebuilding, it will concentrate on wider social and economic issues such as boosting jobs, social care, and community. The LGA says the Commission will focus on:
- Housebuilding – new ways that councils can enable investment in new homes;
- Place making, community and infrastructure – the role of councils in shaping homes within prosperous places and communities;
- Employment, welfare reform and social mobility – the role of housing in supporting tenants to find and progress in sustained employment;
- Health and quality of life for an ageing population – the role of housing in adapting to an ageing population and preventing onward costs onto social care and health services.
Speaking on behalf of the LGA, Cllr Peter Box explained that they were working with the government to ensure housing and planning reforms support council efforts to build more homes. He said: “Councils must be able to play a lead role in building the homes we desperately need, and building the homes in a way that create prosperous places and growth, help people into work and positively adapt to an ageing population.”
Findings to be presented at the LGA Annual Conference
Interested parties are being invited to contribute their ideas, issues, evidence and examples of effective housing to the Commission’s Advisory Panel. Findings will be brought together in a report in Spring 2016 and presented at the LGA Annual Conference in June 2016.
About Experience Invest
Experience Invest is a London-based independent property company specialising in residential investments, student property and care home investments. The company works with clients across the UK and internationally, and is regularly featured in the property news – see The Telegraph, on Yahoo Finance, and by Reuters for examples of recent articles.
Experience Invest recently announced the launch of One Wolstenholme Square, a brand new residential development in the heart of Liverpool.