A new webinar poll conducted by Countrywide Surveying Services has found that 95% of brokers, surveyors, lenders and other property professionals expect the Labour government to miss its ambitious target of building 1.5 million new homes over the next five years.
The results of the poll come after previous administrations have also set high housebuilding targets which they have failed to reach, with planning issues often being the primary cause.
Over 300 property professionals took part in the survey, which highlighted an increased drive in the support of better energy efficiency in the belief could boost demand for new build property. In total, 85% of respondents said that this will be a key feature for homebuyers in the future, as it will play a pivotal role in homebuying decisions.
The webinar panel stated there was a need to educate customers about long-term environmental and financial benefits of new builds, along with the potential future costs of retrofitting older properties. This could increase sustainable housing choices and offer more support for achieving energy efficiency targets.
The topic of a potential stamp duty holiday for new builds was also discussed, with 47% in favour and 53% opposed to the idea. It reinforces the complexities of incentivising homeownership and supporting the new build sector through government interventions.
Commenting on the poll results, Morné Jacobs, Director of New Build at Countrywide Surveying Services, said:
“These results reflect the growing concern within the property industry about the feasibility of meeting the government’s ambitious new homes target. It’s a stark reminder that significant structural changes and support mechanisms are needed to accelerate housebuilding. However, there are also positive trends, particularly the increasing emphasis on energy efficiency, which we expect to shape future housing demand. At Countrywide Surveying Services, we are committed to leading the way in New Build surveying, working alongside our partners to support a range of sustainable and innovative housing solutions.”
Richard Rothwell, Commercial Development Manager at Leeds Building Society, comments:
“Building more homes is a crucial part of solving the national housing crisis. However, the Government’s commitment to build 1.5million homes could be held up under current UK planning processes which are currently weighted towards the minority of people who oppose development, those whose voices are drowning out the people who support building more homes. We must work together to explore ways of unlocking opportunities for home building, to address the concerns raised in the Countrywide Surveying Services polls.”