The Intermediary – March 2025 - Flipbook - Page 37
SPECIALIST FINANCE
In focus
Quality matters as
much as quantity
T
he Government’s
pledge to build 1.5
million new homes
by the end of this
Parliament has been
warmly welcomed
by those of us who believe that
housebuilding should become a real
priority in this country.
Labour has described its plans as
the biggest increase in social and
affordable housing in a generation,
with the aim of delivering 300,000
new homes each year. This is despite
research by Savills indicating that
UK housebuilding continued to fall
last year, with just over 200,000 new
homes completed, the lowest number
since 2017.
Meanwhile, the New Economics
Foundation has estimated that the
number of new social homes must
increase tenfold by 2028, to at least
90,000 annually, compared to the
9,000 built last year.
Quality over quantity
Puing aside the practicalities of its
ambition, the Government’s target
does at least give everyone in the
housebuilding sector something to
work towards. It is just going to be
essential that we prioritise quality
over quantity.
Some developers have already been
accused of doing the bare minimum
necessary to turn a profit and fulfil
their basic planning obligations. This
approach has too oen resulted in
identikit housing estates that lack
any real sense of place or community
identity. With the pressure to build
increasing further, we risk ending up
with whole neighbourhoods ill-suited
to the needs of future residents. In the
long term, this undermines the very
value the Government’s new housing
goal is meant to provide.
I think oen this comes down
to a sense of ownership. A private
developer’s primary interest oen
ends once the site is built and sold,
enabling them to move on to the
next project. In contrast, housing
associations and local authorities
remain the custodians of their homes
long aer the first people move in.
Because of this, public sector bodies
have a vested interest in ensuring their
properties are built to a high standard,
remain energy-efficient, and are
constructed from materials that will
stand the test of time.
Future needs
Not only must these homes continue
to represent the councils or housing
associations positively, they must
also be designed to meet residents’
current and projected future needs.
A well-built home that is economical
to heat and comfortable to live in
encourages longer-term tenancies, but
poor design and low-quality materials
will lead to higher turnover rates as
tenants become dissatisfied, driving
up maintenance costs.
With both private and public-sector
housebuilders needed to deliver the
country’s new homes, it has never
been more important for them to
work in partnership. Ideally, these
collaborations should merge the speed
and cost-effectiveness of volume
building with the community-centred
focus of public sector organisations.
Private developers bring not only
capital but also certain efficiencies
in construction, while housing
associations and councils will be more
likely to advocate for sustainability,
social value, and the long-term
wellbeing of residents.
Geing the balance right will
ultimately benefit residents and
the community if green spaces,
communal facilities and thoughtful
architectural choices are prioritised
alongside speed and cost. For example,
by blending standard housing
models with design details that
match the nearby environment, it is
possible to create more cost efficient
developments that still feel coherent
JONATHAN PEARSON
is director at Residentially
and unique, with a strong sense of
place that reflects the local heritage.
Aer all, the Government’s goal is
not just to construct a vast number of
new homes, but to create thriving new
communities that will stand the test
of time because they are places where
people want to live, work, and spend
their leisure time. Its ambitious target
represents a significant opportunity
to address a long-standing housing
shortage, yet we must recognise that
how we build is just as important as
how much we build.
Not in my back yard
This means empowering rather than
alienating local communities, so that
we can build hundreds of thousands
of new homes every year without
sparking a wave of local opposition
across the country. The more local
people understand and feel part of
the decision-making process, the
more likely planners will be to grant
permission for schemes that reflect
each local community’s wants and
needs. However, developers who
ignore local identity and aspirations
only fuel the illogical concerns voiced
by ‘Nimbys’, with these bales oen
dragging out planning processes.
If we embrace thoughtful
partnerships between the private and
public sectors, and carefully tailor
plans to reflect local character and
the local community, I believe we can
deliver the volume of housing needed
without sacrificing quality. More than
just the bare minimum, we’ll establish
sustainable and vibrant homes fit for
many future generations. ●
March 2025 | The Intermediary
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