9 November 2018

Update

Can business solve the UK's housing crisis?

There is little sign that efforts to improve the affordability and availability of housing are working

Can business solve the UK's housing crisis?

The long-standing housing crisis is one of the greatest challenges facing the UK. The government’s ambition is to see 300,000 new homes built a year, and a raft of developments since its 2017 housing White Paper ‘Fixing our Broken Housing Market’ have hammered home the importance of this target.

Most recently, in last week’s Budget, the Chancellor announced a £7bn extension to the Help to Buy scheme, as well as measures to release hundreds of millions of pounds in funding to increase the supply of new homes.

In 2016, the CBI’s report No place like home revealed key housing priorities, including the need for better partnerships at a local level to improve planning and increasing the diversity of tenure to suit housing needs. The CBI is currently working with members to identify what businesses need from the housing market to support workforces around the UK.

Despite government efforts over the past couple of years, the dual challenges of housing affordability and availability remain remarkably resilient. High house prices and private rents are yet to show signs of easing. The number of affordable homes being built is falling far short of the demand.

To find out the views of businesses from across all industries, the CBI has launched a new survey on the UK’s housing challenges.

Take part in the survey now and give your views

Business can’t solve these housing challenges on its own, but it has a unique viewpoint on what solutions could help alleviate the pressures of housing availability and affordability. This latest CBI research will utilise the expert view and experiences of our members to pinpoint where government should be prioritising efforts to tackle the housing shortage.

For more information please contact Tim Miller