In their procession to Number 10, Labour put tackling the housing crisis at the heart of their plans to transform Britain.
So when Rachel Reeves took to the stage this week, I was eager to hear what her roadmap would be to help deliver the houses so many people desperately need.
Remember, this was the politician who promised, in the run-up to the election, to ‘put shovels in the ground.’
Yet, in the end, she only mentioned the word housing twice. It was hugely disappointing.
The UK is facing a housing crisis
PA
The Government’s target of delivering 1.5 million new homes across the next parliament continues to resonate in speeches. It’s commendable even if it doesn’t actually go far enough.
But without policies to stimulate demand and incentivise developers, there’s little motivation for homebuilders to transform vacant land into thriving communities.
Ministers have accurately identified the planning system’s issues, but the real test will be whether Labour can implement effective reforms. So far I remain sceptical.
Make no mistake this issue couldn’t be more important. Homelessness is on the increase, according to the latest statistics.
Private rents are unaffordable in many parts of the country. The supply of social housing is shrinking due to demolition and sales.
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Owner occupation is out of reach for many people, with average house prices almost nine times higher than average earnings. In London, it increases to 14 times the average household income.
Our housing crisis is unfolding at an alarming rate. According to Shelter, we need at least 90,000 new social rented homes a year to catch up with rising needs and make good the shortfall in housing supply.
While the Labour Party is clearly determined to tackle the housing crisis head-on, there are significant hurdles ahead. The intention is commendable, especially in contrast to previous administrations’ lacklustre efforts to provide adequate housing.
However, fulfilling these ambitious promises will require substantial funding, and it’s vital that comes in the October budget. There’s no time to waste.
Property expert Jonathan Rolande is the founder of House Buy Fast and lead spokesman for the National Association of Property Buyers. For more information visit www.jonathanrolande.co.uk.
