“There is a new market opportunity I want to bring to your attention – self-build,” he said.
“Currently, it builds just one in ten homes in the UK, against 45% in the US and 60% in France and Germany. Demand for self-build is at record levels in the UK, with 53% of people saying they would like to build their own home in the next two years. This is a real ambition,” said Prisk.
Prisk also asked lenders to reconsider lending on Right to Buy properties because he said, in some cases the discount has quadrupled to £75,000.
“Are your teams aware of these changes?” he asked the conference hall.
Later this morning, during a panel on housing supply, Mark Clare, Barratt Development’s group chief executive, said the logistical problems facing self-build were evident.
“As someone who has had to deal with planning permissions for developments of 100 properties, the idea of going through the planning for just one one fills me with horror – and then you have to find the financing,” said Clare.
Wrapping up the panel, conference chair, Simon Jack, business and economics presenter for the Radio 4’s Today Programme referenced Prisk’s speech adding: “Ask not how many houses your country can build for you, but how many you can build for your country.”
