16 FIBA
What ’ s next for the housing market after the change of government ?
RICHARD DEACON Managing Director ( Sales ), Octane
The recent shift in government leadership has injected a fresh wave of speculation and curiosity regarding the future of the UK housing market . With a new administration at the helm , policies and strategies are likely to evolve , bringing potential changes to an already dynamic sector . Here ’ s a look at what might be on the horizon for the UK housing market following this political transition .
1 . Policy overhauls and new initiatives
One of the most immediate expectations from the new government is the introduction of revised housing policies . The previous administration ’ s approach to housing focused heavily on homeownership , promoting schemes like Help to Buy . The new leadership , however , might pivot towards addressing the broader spectrum of housing needs , including affordable rental housing and social housing development .
New policies could aim to balance the market more effectively by ensuring that both the rental and purchase sectors are adequately supported . This might include incentives for the construction of affordable housing , revisiting zoning laws to encourage development in underutilized areas , and providing subsidies for first-time buyers .
2 . Tackling the housing supply crisis
The UK has long grappled with a significant housing supply shortage . The new government is expected to prioritise increasing the housing stock . This could involve more aggressive targets for new home construction and streamlined planning processes to reduce bureaucratic delays . Additionally , there might be a focus on rejuvenating brownfield sites and converting unused commercial properties into residential units .
To expedite the increase in supply , publicprivate partnerships could be encouraged , bringing together the resources of the government and the efficiency of private developers . This collaboration could lead to