Data from the latest survey by Knight Frank has shown that
86% of housebuilders believe construction of 250,000 additional homes a year is the maximum achievable amount by 2022, falling short of the government’s 300,000 target
Only 1% of respondents, which included more than 100 developers that build almost three quarters of all newly-built homes across the UK every year, think 300,000 new homes each year is possible by 2022.
Head of residential development land at Knight Frank Justin Gaze commented “Whatever ministers decide, they must speak up soon if they are to avoid weighing on the supply of homes. The industry has shown itself capable of adapting to change, but businesses in every sector strain to operate amid policy uncertainty.”
David Fenton, head of regional land at Knight Frank, added: “Nationwide, housebuilding looks set to increase, underpinned by more evenly distributed house price growth and high levels of employment in regional cities. However, our survey indicates that scepticism prevails among housebuilders over whether it’s possible to deliver 300,000 additional homes a year, and ultimately they will only build what they can sell.