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Property professionals think government's housing targets are unlikely to be met, CSS survey reveals

Property professionals think government's housing targets are unlikely to be met, CSS survey reveals
Myra Butterworth
Written By:
Posted:
November 22, 2024
Updated:
November 22, 2024

The government’s housing target is unlikely to be achieved, a survey has found.

Countrywide Surveying Services (CSS) found that 95% of the 300 property professionals it surveyed expressed doubts about the targets.

The property professionals included lenders, brokers, and surveyors.

The government has set a target of one-and-a-half million new homes for this current Parliament.

Only 5% of respondents were optimistic that the target would be met.

 

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National housing crisis

Richard Rothwell, commercial development manager at Leeds Building Society, said: “Building more homes is a crucial part of solving the national housing crisis.

“However, the government’s commitment to build 1.5 million homes could be held up under current UK planning processes, which are currently weighted towards the minority of people who oppose development, those whose voices are drowning out the people who support building more homes.

“We must work together to explore ways of unlocking opportunities for home building.”

 

Energy efficiency

The poll also explored the importance of energy efficiency for future homebuyers.

A total of 85% of respondents indicated that energy efficiency will be a significant factor in home buying decisions.

This consisted of 20% saying it was ‘very important’ and 65% saying it was ‘somewhat important’.

It leaves 10% saying it was neither ‘important’ nor ‘not important’, with 5% believing that it was ‘not really important’.

 

Stamp duty holiday

Concerning a potential stamp duty holiday for new builds, opinions were evenly split, with 47% of attendees in favour and 53% opposed.

CSS said the division underscores the complexity involved with incentivising homeownership and supporting the new-build sector through government interventions.

Morné Jacobs, director of new build at CSS, said: “These results reflect the growing concern within the property industry about the feasibility of meeting the government’s ambitious new homes target.

“It’s a stark reminder that significant structural changes and support mechanisms are needed to accelerate housebuilding.

“However, there are also positive trends, particularly the increasing emphasis on energy efficiency, which we expect to shape future housing demand.

“At Countrywide Surveying Services, we are committed to leading the way in new-build surveying, working alongside our partners to support a range of sustainable and innovative housing solutions.”

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