An overwhelming majority of brokers, surveyors, lenders and other property professionals do not expect the new government to meet its target of building 1.5 million new homes this parliament.
A total of 95% expect this target to be missed according to a recent webinar poll by Countrywide Surveying Services (CSS). This comes after previous administrations have set ambitious housebuilding targets which have failed to materialise, often due to planning issues.
However this survey, among more than 300 property professionals, highlighted support for the drive to improve the energy efficiency of UK property, which could help drive demand for new build property. A total of 85% of those surveyed said that energy efficiency would be important for future homebuyers, and was likely to be a significant factor in homebuying decisions.
As a result those on the webinar panel agreed there was a need to educate consumers about the long-term financial and environmental benefits of new builds, alongside the potential future costs of retrofitting older homes. It said this could help drive more sustainable housing choices and support energy efficiency goals.
On the topic of a potential stamp duty holiday for new builds, opinions were evenly split, with 47% of attendees in favour and 53% opposed. This division underscores the complexity involved with incentivising homeownership and supporting the new build sector through government interventions.
Countrywide Surveying Services, director of new build Morné Jacobs says: “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.”
