With the recent surge in economic boosts after the General Election took place on Friday, experts in the housing market are using this time to project future prospects to the Conservative party.
The Chief executive of a builder’s lobby group called FMB, Brian Berry, said: “The new Conservative government has a golden opportunity to sort out Brexit and set out its new vision for the UK. Building the homes and infrastructure that this country needs has to be a key priority to help drive the economy forward.”
Boris Johnson has pledged a £3bn National skills fund to support “local builders to retrofit the millions of homes that need to be upgraded to low carbon,” explained Berry.
The Head of Platform, a build-to-rent developer, Jean-Marc Vandevivere, spoke up about the situation: “There’s a risk of returning to the previous focus on ownership at all costs. Private renters are a fast-growing part of the market whose needs need catering to, and the best way to raise standards across the whole rental market is to encourage the creation of purpose-built, professionally-managed rented homes with on-site amenities that cater to modern lifestyles.
“The aim of the new government should be to increase supply across the board, not just market-sale housing,” said Vandevivere.
Randeesh Sandhu, the Chief Executive of a residential property finance firm Urban Exposure, stated that the housing market should see a boost due to the resurgent UK economy. Sandhu explained that the Conservatives are “clearly the party that has been and looks set to continue to support home ownership with a series of initiatives in their manifesto focused on supporting first-time buyers, such as the proposed mortgage deposit scheme.”
Julie Hirigoyen, the Chief Executive of the UK Green Building Council, highlighted the fact that due to climate change, there is a great necessity to tackle the UK’s housing need and infrastructure. Hirigoyen witfully added, “to coin the now well-used phrase, let’s use the upcoming decade to get net zero carbon done.”
With high hopes for the next 12-month pipeline for construction and housing, changes should be made in order to address the key issues of supply and demand, while paying close attention to climate awareness.