Building homes, growing industry, raising incomes
16th Sep 2024
Rumbling away in the background is the noise you can hear around the debate on building more homes and where they should be located.
All too often that debate, unfortunately, gets portrayed as one concerning new homes being built on green belt land. But the other day my attention was drawn to some numbers I had not seen before, which should be a concern to all those businesses that stand to benefit from more housebuilding.
The data comes from the Planning Portal Market Index, which found that more than a million homes granted planning permission since 2015 have not yet been built. Just let that sink in, unless there is an outbreak of individuals who just like to gain planning permissions, it suggests that something is preventing that permission being converted into a new home.
What they also found, is that the target build figure of 300,000 new homes a year would have been met in eight out of the last ten years had all those homes getting planning permission actually got built.
So, it does beg the question, ‘what’s the problem then?’ The study suggested more fundamental problems exist in the house building market – relatively high interest rates, labour shortages and material price increases, are all claimed to be responsible. So even if we ignore these findings, plough ahead with freeing up land to build on, will new homes actually be the result?
From our members’ point of view, it is clearly in our interest to see housebuilding numbers grow. New boilers and heat pumps; heat networks for larger scale developments; cylinders, radiators, meters, pipes and networks too, all needed for these homes. Buying from our merchant members and fitted by our installers and engineers. What’s not to like?
We are all aboard the new house building express, we just need it fired up and moving out of the station.
Mike Foster
EUA's Chief Executive
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