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Sir Keir Starmer: my vision for housing
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Starmer needs to really take a pragmatic approach to housing.

He wants to increase current housing building to 300k a year (up from the current levels of c.250ish). To do so he either needs to make it easier for private developers to build and sell homes, or he needs to pump a fuck ton of money into Homes England (or equivalent/replacement public body) to build vastly more government controlled homes.

Given the financial constraints he'll be under, and lack pledge's to this fuck ton of money, I suspect this won't be his solution.

This means he needs to somehow make it easier for private housebuilders to build and sell homes.

A falling interest rate will help that. It'll make it easier for housebuilders to secure development finance. It'll also make it easier for home buyers to get mortgages and buy such homes. So some of his aim will happen automatically.

Releasing land from the green belt will help. But this already happens. It's already one of the more negotiable planning constraints. And given his wishy-washy language about it, it seems like a radical increase in land release is unlikely.

He has more wishy-washy language about empowering local communities (which tend to be against building new homes) Vs hitting national housing building targets. It's not clear which priority will really win out.

Additionally he wants housebuilders to deliver more affordable homes. While this sounds nice, it's important to remember that the current affordable homes guideline of 30% was set a few years ago when development was much cheaper and easier.

10% of 500 homes built is more that 40% of no homes. It's this sort of pragmatism I think his policies need to embrace.

He does seem to understand the importance of increasing funding to local public planners at least. As well as at least some streamlining of the planning process.

So a of a mixed bag. Housebuilders failed to deliver 300k homes a year back when they were supported by Help to Buy even. None of his policies look even half as generous as that, so I really struggle to see how he's going to hit that target.

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4 months ago