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Pre-budget announcement on house building

Thursday 16 November 2017

Prime Minister Theresa May has pledged to make it her personal mission to ‘build more homes, more quickly’.

In a pre-Autumn Budget announcement, Mrs May has outlined her plans for the future of housing in Britain.

Ahead of the publication of new statistics on housebuilding, Theresa May released a statement promising to deliver affordable, secure and safe housing for all, quickly.

The number of new homes delivered each year has been on the rise since 2010, but the Prime Minister has acknowledged there is more that can be done to build the homes the country needs.

Prime Minister Theresa May said: “For decades we simply have not been building enough homes, nor have we been building them quickly enough, and we have seen prices rise.

“The number of new homes being delivered each year has been increasing since 2010, but there is more we can do. We must get back into the business of building the good quality new homes for people who need them most.

“That is why I have made it my mission to build the homes the country needs and take personal charge of the Government’s response.

“Today I am seeing the work now underway to put this right and, in coming weeks and months, my Government will be going further to ensure that we build more homes, more quickly.

“This will be a long journey and it will take time for us to fix the broken housing market - but I am determined to build a Britain fit for the future.”

Speaking in Bristol, Communities Secretary Sajid Javid delivered a speech where he reinforced the government’s approach. He promised a £9 billion investment for affordable housing and announced that Housing Minister Alok Sharma had signed papers that will allow housing associations to be reclassified as private sector organisations, giving them the freedom to build more homes.

He said: “We’ve doubled the housing budget to deliver a million more homes, including hundreds of thousands of affordable ones. We have reformed planning rules, leading to record levels of planning permissions being granted. We have fought bureaucratic inertia and vested interests and we have freed up unprecedented levels of public sector land.

“We’re providing hundreds of millions of pounds of finance for small and innovative builders to accelerate construction speeds. And tens of thousands of derelict homes are being brought back into use… The list goes on and on. So yes, we’ve done a lot. Yet it is painfully obvious that there remains much, much more to be done.”

Mark Hayward, Chief Executive, NAEA Propertymark commented: “We welcome the figures announced today showing an increase in the number new homes built last year. This is a start, but much more work needs to be done. 

“The Chancellor now needs to throw his weight behind the aims outlined by the Secretary of State, in next week’s Autumn Budget, with short, medium and long term commitments starting with stamp duty exemptions for first time buyers and downsizers.”