Government Pledges 1.5 Million New Homes by 2029
The new Housing Secretary, Steve Reed, has reaffirmed the government’s commitment to tackling the housing shortage with a promise to deliver 1.5 million new homes across England by 2029. Speaking during a visit to a development site in Bedfordshire, Reed stressed that the country faces a housing crisis and insisted the solution is to “build baby build”.
The pledge, first set out in Labour’s election manifesto, has been described as both ambitious and necessary. Reed has made clear that his role is to remove barriers holding up construction, pledging to accelerate planning approvals and get spades in the ground. He also warned developers that sanctions would be considered if building work was delayed without good reason.
Although industry leaders acknowledge the scale of the challenge, they also note encouraging signs. Applications to build more homes have risen over the past six months and legislation to reform the planning system is already making its way through Parliament. Reed’s commitment to an acceleration package designed to speed up the process could further strengthen momentum.
The housing sector does continue to face pressures, including rising material costs and the need for more skilled workers. Local construction companies have voiced concern that training and apprenticeships will be vital to meeting demand in the long term. Nevertheless, there is optimism that partnership between government and developers will deliver on this vital target.
For homeowners, this renewed drive to expand housing supply presents a timely opportunity. With buyers eager to secure a place in a market that is set for change, demand for existing properties remains strong. If you are considering selling, now could be the perfect moment to make your move while confidence in the housing market is growing and activity levels continue to rise.
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