05 FEB 2018

HFi Today, February 2018

- Ministry of Housing, Communities and Local Government at Jaywick Sands

- The Times - Housing Special

- Housing Business Breakfast - this Wednesday


Ministry of Housing, Communities and Local Government at Jaywick Sands

Recently, Melanie Dawes, Permanent Secretary at the Ministry of Housing, Communities and Local Government, visited Jaywick Sands. She was joined by the HFi's Natalie Elphicke and the Coastal Communities team.

They discussed Jaywick Sands New Coastal Village and the opportunities available there. As a result, Melanie pledged to do all she can to ensure that this project gets off the ground, in order for us to build the homes we need.

Many of you will know that the HFi has played an active role in the regeneration of Jaywick Sands. It is one of Britain's many coastal communities which needs housing renewal.

Jaywick Sands was one of the HFi's case studies in our paper 'Turning the Tide'. In which we set out three areas for reform:

  • Attracting new public and private housing investment and housebuilding into the most deprived areas;
  • Enabling a one-stop shop for Housing Renewal Powers; and 
  • The introduction of a Fair Value Rents regime.

You can read 'Turning the Tide' in full here.


The Times - Housing Special

Last week, The Times newspaper ran an excellent feature on housing. The newspaper was packed with articles about our favourite topic - housing. Today, we thought we would share some of our favourites with you.

There was 'Green belt brand is hiding ugly truth' which argued that not all Green Belt land is exactly the same. It is not all the rolling hills of the Chilterns, it also includes scruffy scrubland, litter-strewn railway sidings and even a disused petrol station. The purpose of the land is of the utmost importance when a designation of 'Green Belt' is made. A point made by our Chairman, Sir Mark Boleat, in his recent paper 'The housing problem in London'.

Kirstie Allsopp, of Location, Location, Location fame, called for suitable sheltered accommodation for the elderly, allowing them to move down the housing ladder, as well as forcing high street shops to rent out spare space above their premises. 'Forget giving young a leg up, help old down housing ladder, Kirstie Allsopp says'.

Former Housing Minister, Nick Boles, made a controversial intervention. He criticised developers for 'land banking' and called for more competition in the market in 'Snagging list reveals market's shaky foundations'. This earned a rebuke from Pete Redfern, Chief Executive of Taylor Wimpey, who argued that it was not true to say that builders are 'land banking'. 'Taylor Wimpey hits back at ministers over land-banking'.

The Secretary of State, Sajid Javid, also got involved - 'Sajid Javid goes to war with nimbys and land bankers'. He criticised nimbys and land bankers, while arguing that there must be an increase in supply, not just more Help to Buy or cuts to stamp duty.

Anne Ashworth argued for something called slimby - as opposed to nimby or yimby. This, according to her, means 'something logical in my back yard', which is probably a halfway house between nimby and yimby. 'Bring on the slimby revolution'.

There was an article that rebutted the conventional wisdom that foreign buyers have caused a housing crisis. As Sir Mark also argued in his paper, projects can often only get off the ground because of foreign buyers buying property off-plan. 'How wealthy foreigners power the big projects'.

Famous psephologist, Sir John Curtice, wrote about the political dimension to housing in Britain. 'John Curtice: Young and old want action on housing crisis'.

The series ended with 'A better future built on many small ideas and one big vision', which argued for modular housing and made recommendations on how to improve the situation. Among other things, it called for housing to be categorised as infrastructure (something we recommended in our recent paper 'Better Connections') and for restrictions on building to be lifted on parts of the Green Belt (which Sir Mark argued for in his paper).


Housing Business Breakfast - this Wednesday

Our next Housing Business Breakfast will be held this Wednesday, 7 February at Trowers & Hamlins at 8.30-10.00am. We will be discussing Housing Delivery Partnerships. This is a great opportunity to not only network, but also, discuss the most important issues facing the housing industry.

Trowers & Hamlins is located at 3 Bunhill Row, London EC1Y 8YZ

To reserve your place email events@thehfi.com

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Housing Delivery Snapshot - August 2024 

• The Bank of England cut interest rates to 5% in a move expected to begin to boost confidence. The close 5-4 vote of the MPC came with a cautionary message that the Bank was not going to cut “too quickly or by too much”.

• Mortgage lender Nationwide released its latest UK house price index report, with an annual growth in house prices of 2.1% in July, its fastest pace since December 2022.

• The latest NHBC housing pipeline figures for Quarter 2 2024 show the scale of the current housebuilding slump with a 23% fall in new registrations compared to the same quarter in the previous year.

• Latest MHCLG data reported a significant fall in residential Planning Permissions over 30%, another key housing pipeline indicator.

• Following the General Election, the new Government confirmed its 1.5 million new homes target for this Parliament.

• The Housing Secretary took immediate action to impose compulsory housebuilding targets on councils, with a warning of direct intervention if housing targets are not met.

• The Housing Minister confirmed on BBC Radio 4’s Today programme on 31 July that the Government’s New Towns programme is not expected to deliver any completed homes this Parliament.


HFI Housing Delivery Newsletter - August 2024

The Bank of England’s rate cut was a ray of light, but the housing pipeline remains a cause for concern. At the Housing & Finance Institute, we look at the latest news and developments in housing since the election, including in the Housing Spotlight and Delivery Snapshot.

Rate Cut Boost

Amid a challenging year for housebuilding and mortgages, there was a ray of light on 1 August, with the Bank of England announcing a long-awaited interest rate cut to 5%. The close 5-4 vote of the Monetary Policy Committee came with a cautionary message that the Bank was not going to cut “too quickly or by too much”.

Ahead of the rate rise, the mortgage lender Nationwide released its latest UK house price index report, with an annual growth in house prices of 2.1% in July, its fastest pace since December 2022.

The latest Bank of England announcements will provide a little relief for some current mortgage holders and those needing to refinance. However, many first-time buyers are facing a continuing double challenge of finding money for a deposit while meeting stringent affordability criteria. So while generally mortgage market confidence may begin to rise off the back of the Bank of England interest rate cut, access to home ownership remains difficult for many, given the affordability and home deposit challenges.

Housing Pipeline Concern

However, housing pipeline figures remain a cause for concern with the latest NHBC housing pipeline figures showing the scale of the current housebuilding slump. Latest MHCLG data reported a significant fall in residential Planning Permissions, another key housing pipeline indicator.

Housing Policy Interventions

Following the General Election, the new Government has confirmed its 1.5 million new homes target for this Parliament. Immediate action has been taken by the Housing Secretary to impose compulsory housebuilding targets on councils, with a warning of direct intervention if housing targets are not met. However, the Government’s New Towns programmes is now not expected to deliver any completed homes this Parliament, the Housing Minister told Radio 4’s Today programme. This raises questions as to how the 1.5 million new homes target will be delivered, without these major new developments coming forward at pace.

Further Government intervention on the demand side to support new buyers and home deposit savers is likely to be necessary over the next period to reverse the current housebuilding slump, together with far-reaching interventions for skills and building materials to meet a housing target that hasn’t been met since mankind first landed on the moon over 50 years ago. The HFI’s purpose is to support increased housing supply, back councils and businesses working together to build more homes and promote new ways to finance housebuilding.

Do get in touch if you would like to share ideas and suggestions on building the homes our country needs.

Best regards

Natalie Elphicke Ross
Head of Housing Delivery

natalie@hfi.org.uk


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HFI Pre Budget Briefing October 2024