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Lloyds spearheads programme to tackle new homes shortage

by: Emma Lunn
  • 28/01/2015
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Lloyds spearheads programme to tackle new homes shortage
The Lloyds Banking Group Commission on Housing has published an independent report which sets out a plan to overcome the UK’s housing shortage.

The commission includes two former housing ministers, Mark Prisk MP and Nick Raynsford MP, and housing experts from within Lloyds and other organisations such as the Future Homes Commission and home builder Crest Nicholson.

The research underpinning the report has been carried out by Cambridge University and sponsored by Lloyds Banking Group.

The aim of the Commission on Housing is to generate cross-party agreement on key policy areas which could make a significant difference in providing greater levels of new homes.

The report calls for a progressively rising target for national house-building which will deliver 2 million to 2.5 million homes by 2025. It says to achieve this the focus needs to be on the delivery of high quality yet affordable homes.

The report says large private sector builders need to be supported by a “revitalised” self-build sector and a new professional rental sector backed by institutional investors.

The commission also calls for a duty to be placed on all public sector bodies to review land holdings and assess the case for the disposal of surplus for the purpose of new homes.

Mark Prisk MP, co-chair of the Lloyds Banking Group Commission on Housing, said: “The UK housing market is facing a range of interlocking problems relating to the general shortage and quality of new homes being built. These will not be solved without a determined and sustained programme supported by all political parties, and we intend this report to be the spur to give this issue the priority it needs.”

Other key recommendations in the report include those relating to planning, compulsory purchase orders, more long-term development partners, clear targets for local authorities, and the reform of the Construction Industry Training Board.

Brandon Lewis, government housing minister, said: “I welcome this report’s contribution to the debate, which makes clear that all parts of the housing industry must work together and continue to build the homes this country needs.”
 
 
 
 

 

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