07 JUN 2019

HFi Today, Recent Round-up

Over recent months the HFi has been busy working with councils to help them build the homes our country needs, alongside our policy work. Today's round-up will cover some of the things we have been up to recently.


Invitation to the New Anglia LEP Housing Conference

Join us to celebrate success and debate how we can build on that success for a sustainable future!

NALEP and the Building Growth Group are holding their first Housing Conference on 11 July 2019, 10.00 – 16.00 at Wherstead Park, Ipswich. The Conference is an important step in further bringing together the public and private sector around the ambition to deliver 140,000 new homes across Norfolk and Suffolk by 2036.

Working closely with the HFi and Suffolk Design, the three key themes of the Conference are: Quality, Quantity, Affordability. Confirmed speakers are:

Richard Bacon – MP for South Norfolk
Sarah Beale – CITB
Ben Denton – Legal and General
Natalie Elphicke – Housing and Finance Institute
Doug Field – New Anglia LEP
Pete Gladwell – Legal and General
Wayne Hemingway – Hemingway Design
Saul Humphrey – Building Growth Group
Tom Oliver – Ilke Homes
Paul Kitson – Homes England
Chris Lamb – Design South East
Nikos Savvas – West Suffolk College

Please click here to book onto the event.


Sir Steve Bullock Appointed Chairman and Claire Kober Joins the HFi's Board


Sir Steve Bullock DL has been appointed Chairman of The Housing & Finance Institute. Sir Steve succeeds Sir Mark Boleat as Chairman of the HFi, having served on the HFi Board since the organisation's inception in 2015.

Sir Mark Boleat as HFi Chairman took the organisation from strength to strength. Planning is a topic Sir Mark feels very strongly about, and an issue he championed as Chairman. In 2017 he wrote a paper setting out his views, 'The Housing Problem in London', click here to read his report in full.

The HFi would like to take this opportunity to thank Sir Mark for all his hard work and his excellent chairmanship over the last four years.

Our new Chairman, Sir Steve Bullock DL, is also Chair of Sutton Housing Partnership, a company set up in 2006 to manage council housing stock on behalf of Sutton Council. Sir Steve was elected as the London Borough of Lewisham's first directly elected Mayor in May 2002, serving until 2018. Immediately prior to becoming Mayor he was Chair of the University Hospital Lewisham NHS Trust. Sir Steve was first elected as a councillor in 1982 and served as Leader of Lewisham Council from 1988 to 1993.

In other HFi Board news, Claire Kober OBE has joined the HFi's Board of Directors. Claire is Managing Director (Homes) at Pinnacle Group, sitting on its executive committee.

Prior to joining Pinnacle, Claire spent a decade in local government as Leader of the London Borough of Haringey where she prioritised improving education outcomes for all children, wide-scale regeneration and delivering better housing. Claire is a former Chair of London Councils – the regional body that brings together the capital's 32 boroughs to lobby for fairer funding and a better quality of life for Londoners and also represented the region on the London Enterprise Panel. She served as finance portfolio holder for the Local Government Association. In 2015, Claire was awarded an OBE for services to local government.


HBR Springboard


The Local Government Association and the HFi recently completed our new housing programme for councils called 'HBR Springboard'.

HBR Springboard was designed to meet the needs of councils that have the appetite and ambition to shape the delivery of homes for their area, and who recognise that getting support will deliver results, faster.

Each council gave a presentation on their area, their housing delivery and ambition. We were impressed by the articulation of the ambition by many of the councils, we were left with a genuine feeling that these are the councils which want to build more homes, faster.

During the course of the programme councils heard from: the Local Government Association; Cheyne Capital; Homes England; Savills; Pinnacle Group; Trowers & Hamlins; MHCLG; Neal Hudson; Local Partnerships; Optivo; Homes England; and Tendring District Council. With 32 attendees from 18 different local authorities.

This culminated in a final session which gave councils the opportunity to pitch a real development in their area in a 'Dragon's Den' style competition. Councils had the opportunity to present and get tips from experts in their field, from investors, Government and others. Together with an opportunity to attract and secure dedicated resource support from a range of partners.

The judges - Homes England, Cheyne Capital, HFi and Savills - were so impressed, they decided to offer some next steps support to every council who pitched for assistance. The three winning councils will be presenting at this year's LGA Conference - please come along.


The HFi at Conference


Our Chief Executive, Natalie Elphicke OBE, chaired the HBF Policy Conference again this year, for the second year in a row.

The conference discussed a range of issues and opportunities in the housebuilding sector and possible steps forward.

Natalie was joined by many industry experts including the Secretary of State for Housing, Communities and Local Government, James Brokenshire MP, and the Shadow Secretary of State for Housing, John Healey MP.

Natalie also spoke at the Building Societies Annual Conference 2019. Natalie agreed with the theme of the session, that for an aspiring owner-occupier, private renter or social tenant, obtaining suitable housing is becoming increasingly challenging. She drew on the findings of the HFi and Radian's latest report, A Time For Good Homes, which exposes the severe harm to family and financial stability caused by the huge expansion in private renting over the last 15 years, affecting around 6 million people.

The Good Homes paper sets out a ten-point plan to reverse the damage caused by the explosion in private renting and to make sure that millions more people can access an affordable, stable home that supports job mobility and creates a springboard for opportunity. Click here to read the report in full.

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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


What are the key areas to Budget Watch in relation to Housing Delivery?

Autumn Budget 2024: What are the key areas to Budget Watch in relation to Housing Delivery?

 

 

 

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HFI Pre Budget Briefing October 2024