Opening the BSA Conference in Harrogate today, BSA chief executive Robin Fieth (pictured), said solving the housing crisis in the UK will require action from multiple organisations and agencies.
“The single most important thing that our new government can do for housing in the early days of this parliament is to set in motion a long-term plan based on national and regional demographics, infrastructure, employment and environmental concerns,” he said.
Fieth said England needed 200,000 new homes built each year, with just 94,000 built last year. He noted that the last time the UK built more than 200,000 new homes in a year was in 1968.
“With our top five builders estimated to be able to satisfy only 30% of this demand, it is essential that multiple other builders, plus housing associations, local authorities and individuals interested in self or custom-build are also able to build,” said Fieth.
“Many building societies already have a good working relationship with local and regional builders and are the main suppliers of mortgage finance for self and custom-build across the UK.”
To aid house building, the BSA has designed a programme to increase the availability of mortgage finance for homes built using modern construction methods and materials. This applies particularly to off-site modular construction, a niche method that is substantially quicker than standard brick and tile construction.
Fieth went on to call on the new government to take early active steps to encourage and support a properly functioning financial services sector.
“We need legislative change in the UK to ensure we retain and expand a diverse array of providers. Our financial services market is already rather less diverse than many in Europe,” he said.
“We are not asking for any special preference for mutuals, but a clear recognition that the customer-owned business model is different from the shareholder-owned model, with the two being considered side by side as legislation and regulation is structured.”
