The government will need to deliver 450,000 homes in its final year if it wants to meet its target of 1.5m homes by 2029, according to the projections of a new report.
Cross-sector membership organisation The Housing Forum calculated in its report The road to 1.5 million new homes that housing delivery will need to reach 450,000 in 2028/9 to achieve the 1.5m target, a number not seen since 1968.
This estimate takes into account the fact that housing completions are due to slump to around 160,000 in the current year.
The report‘s roadmap includes a timeline of policy change and funding that the housing and construction sectors need to meet the government‘s objective.
The Housing Forum’s chief executive, Shelagh Grant, said: “The government’s targets are ambitious, especially given the challenging situation in which the housing sector currently finds itself.
“However, the organisations we work with across the housing sector – from architects and manufacturers, to housebuilders, housing associations and local councils – are ambitious too. We‘ve set out here the policy reforms that we believe would help the sector to deliver the new homes that are so badly needed.”
- The 1.5m new homes target is the subject of this month’s episode of the 21CC podcast. You can listen to it here.
