Home Residential PropertyNew Build Labour’s plan to build ‘1.5m new homes is a pipe dream as we lack tradespeople, infrastructure and raw materials to deliver it’

Labour’s plan to build ‘1.5m new homes is a pipe dream as we lack tradespeople, infrastructure and raw materials to deliver it’

13th Jun 24 1:47 pm

Part of the Labour Party manifesto is entitled ‘Get Britain Building Again’, promising reforms to the planning system and the goal of building 1.5m homes over the next parliament.

Andrew Montlake, managing director at Coreco said, “I hope to be proved wrong but how many Governments have promised to get Britain building again, and how many have failed?

“Countless administrations have crashed on the rocks of the construction sector, with their promises slowly gathering dust. Planning reform is another thing that has been over-promised and under-delivered.

“Let’s hope the Labour Party can follow up the theory with practice. They appear to be the only party with the potential to do so.”

Justin Moy, managing director at EHF Mortgages said, “Building 1.5m new homes is a pipe dream as we lack the tradespeople, infrastructure and raw materials to deliver it.

“These plans will take a long time to implement, and there are plenty of homes that could be regenerated quickly, combined with better mortgage rates, that would provide a quicker and more effective exit from the current mess that is the UK property market.”

Kundan Bhaduri, property developer and portfolio landlord at The Kushman Group said, “Labour intends to tackle everything from housing and transport to energy and innovation.

“But,much like a teenager’s bedroom, their manifesto is full of wet dreams, with no direction on how to turn it into reality.

“Under Labour’s watch, planning laws will likely become more tangled than your last attempt at untangling Christmas lights. Their solution to the housing crisis?

“More bureaucracy and a wishful thinking approach that makes you wonder if they’ve confused ‘planning’ with ‘planning permission denied.’

“During their last term in government, the number of new homes built was insufficient to meet demand, contributing to the ongoing crisis. Labour’s mismanagement of public housing projects have often faced criticism, too.

“The complexities of planning reform, Labour’s questionable funding mechanisms, potential alienation of the private sector, a mixed track record, and the challenge of local government coordination all suggest that Labour’s plan will struggle to achieve its objectives.”

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