The slow release of the Planning and Infrastructure Bill, and the fact that there are plenty of other factors involved, means the government already looks unlikely to meet the target of building 1.5 million homes across the parliament.
That is according to John Nettleton, group property and partnerships director at Audley Group.
The bill promises to kickstart housebuilding by reforming planning committees and the compulsory purchase process, among a number of other steps.
However Nettleton said: “While steps towards unclogging the housing market are materialising, there is no silver bullet to improving the planning system. Delays in decision making and regulatory red tape for so long means that the 1.5 million new homes target is already looking incredibly unlikely.
“Streamlining planning rules alone will not be enough to achieve the government’s target of 150 new major projects and 1.5 million homes in this parliament. We need to consider the other key factors, including interest rates, market incentives, foreign investment, and the availability of skilled labour and materials, which are also essential to ensure we hit house-building targets.
“First time buyers are also often prioritised when it comes to housebuilding, but it’s crucial we look at the full population when it comes to building new homes – whether that is the younger generations or the elderly populations. There is no ‘one size fits all approach’ and we need to start moving more quickly or the 1.5 million target will look less and less realistic by the day.”
