Being the last issue of the year, this “First Word” is also a “Last Word” of sorts and marks the end of 2024. As this time of year is best suited to reflecting, there seems no better occasion to look at the past, present and future of housebuilding. Much the same as most industries, “a waiting game” is the phrase that best sums up housebuilding in 2024. With the general election taking place slap bang in the middle of the year, this “game” was certainly one of two halves, neatly bisected as pre- and post-Labour. Although it may be easy to say with hindsight, much of the first half of the year felt like waiting for an election and the inevitable downfall of the Tories. With 14 years of increasing gaffes and scandals spread across five premierships, all Labour really had to do was turn up.
Our industry played a big part in the lead up to the big vote too, with all sides promising to solve the housing crisis we find ourselves in. Of course, 16 successive Ministers of State for Housing from 2010 to 2024 certainly didn’t foster any confidence in the Conservatives being the ones to solve the problem. With no real attempts to dismantle the planning hurdles facing developers at all (rather the opposite in fact), it was no wonder the country decided to look elsewhere. Sustainability too, is a big talking point in the industry. While regulations may have changed during those 14 years to address the need to decarbonise, take the recent Part L and BNG requirements, the roll out of these has been suboptimal to say the least. It was high time for a change, we were all just waiting for it to happen.
So, with a new government, are things any different? Well, yes and no. Nobody could expect Labour to just click their fingers and make everything tip top, but the ball doesn’t feel like it’s quite rolling yet. It’s true that the new government has come out of the gates swinging with planning reform ambitions, a target of 1.5 million new homes in five years and compulsory local targets. Those are ultimately just words though, until they turn into action, which we’re yet to see. Add to that the collective anticipation of the Autumn budget and the second half of the year has felt just as expectant. Now that that’s been and gone, at least we all know where we stand. While a number of business in the UK will be affected, if our new overlords are to be believed, it will get the country and its public services back on track.
Indeed, the pledge to “Get Britain Building Again” does seem to have changed the mood in the industry. News from the NHBC shows that the amount of new homes registered to be built was up 40% in Q3 2024 on the same figure in Q3 2023. Now is the time to capitalise on this confidence. Our new government has definitely talked the talk, now it’s time to walk the walk. No more waiting. So, reform those planning laws, sort out interest rates, start incentivising young people to get into the trades, and roll out the Future Homes Standard 2025 properly. No pressure!
