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Majority of Brits not confident housing targets will be met – London Wallet

Mark Helprin by Mark Helprin
July 29, 2024
in Real Estate
Majority of Brits not confident housing targets will be met – London Wallet
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More than half (57%) of British residents are not confident that the new government can meet its targets for homebuilding during the next five years, according to research by MyBuilder.

In the age range of over 55s, the figure jumps to 72%.

The government has set a target of building 1.5 million homes by 2029. MyBuilder has raised concerns around how realistic this is, taking into account the skills shortage within the building industry.

Andy Simms from MyBuilder said that the government must do all it can to encourage young people into trades to address the skills shortages.

“It’s great to see that the new government is keen to prioritise house building when there is such a problem in this area,” he said.

“Government incentives helped the UK see a spike in trades apprenticeships, but in 2021 nearly half of this apprenticeship levy was unspent. 

“The government must work with the education system to promote the trades as a career path, or we will be facing bigger shortages than ever at a time when house building needs to be a priority for the British people.”

Propertymark has also raised concerns over the skills gap standing in the way of the government target.

The professional body has warned that for the government to meet their specific housing goals of constructing 1.5 million new homes by 2029, then they would need to build a large housing estate with over 1,150 homes every single working day. 

Propertymark has welcomed the the government’s housing pledges, but called on legislators to “clarify how they are going to assemble a workforce large enough to guarantee that the UK will have the extra 1.5 million new homes promised by the end of this parliament to balance out supply and demand levels, and ultimately even out house prices in the long-term”.





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