National inquiry suggests UK housing revolution could be easy to fund - Property - The Independent

National inquiry suggests UK housing revolution could be easy to fund

300,000 extra homes could be built
in the UK every year without an extra penny of Government spending or
debt, claims new report

 

The UK is building homes in a "dysfunctional way" and the system needs to be radically overhauled, argues the new study from the Future Homes Commission.

Their report ‘Building the Homes and Communities Britain Needs’suggests the UK can be lifted out of recession, thousands of new jobs generated and the housing shortage problem solved by a complete overhaul of the way new housing development is funded, built and marketed.

The commission calls for a three-fold increase in the number of new homes being built every year, from the current 100,000 to over 300,000 on brownfield land. To achieve this, it suggests setting up an independently managed £10 billion Local Housing Development Fund to kick start the building effort, financed by Local Authority pension funds pooling 15 per cent of their assets to invest in rental and shared-ownership housing. 

Chair of the Future Homes Commission Sir John Banham said: "A housing revolution is entirely possible and will lead economic growth. We need to increase massively the number of quality homes being built for many years to come, but also to develop communities which enhance the quality of life for both new residents and those living in existing communities nearby. All this has to and can happen without any additional government funding.                

'We strongly believe that local government can become the leader of new development once again, by using their assets and powers to create the type of mature, sustainable, mixed tenure communities that Britain needs and that institutional and international investors want to invest in. After decades on the sidelines, the time is right for local government to show real leadership and realise their potential to shape a positive future for local people by delivering strong, self-financing communities where people want to live and to kick start the demand for better quality housing in the future.'

Royal Institute of British Architects President Angela Brady said: "The recommendations provide an excellent starting point for delivering a radically improved housing market. In particular, the RIBA supports the clear value that should be placed on ensuring the homes we build today meet current buyers’ needs and are fit for future generations."                

Discover more property articles at Homes and Property
News
Paper trail: the wedding photograph found in the rubble after 9/11 – it took Elizabeth Keefe 13 years to find the people in it
newsWho are the people in this photo? It took Elizabeth Stringer Keefe 13 years to find out
Arts and Entertainment
Evil eye: Douglas Adams in 'mad genius' pose
booksNew biography sheds light on comic genius of Douglas Adams
Sport
FootballFull debuts don't come much more stylish than those on show here
News
i100
PROMOTED VIDEO
Arts and Entertainment
Matisse: The Cut-Outs exhibition attracted 562,000 visitors to the Tate Modern from April to September
art
Life and Style
Models walk the runway at the Tom Ford show during London Fashion Week Spring Summer 2015
fashionLondon Fashion Week 2014
News
Kenny G
news
News
peopleThe black actress has claimed police mistook her for a prostitute when she kissed her white husband
Life and Style
techIndian model comes with cricket scores baked in
Property search
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

KS1 and KS2 Primary NQT Job in Lancaster Area

£85 - £140 per day: Randstad Education Preston: Randstad Education is urgently...

Supply teachers needed- Worthing!

£100 - £120 per day: Randstad Education Crawley: Supply teachers needed for va...

KS1 and KS2 Primary NQT Job in Lancaster Area

£85 - £140 per day: Randstad Education Preston: Randstad Education is urgently...

Secondary Supply Teacher Lowestoft

£110 - £140 per day: Randstad Education Cambridge: Randstad are currently look...

Day In a Page

Mystery of the Ground Zero wedding photo

A shot in the dark

Mystery of the wedding photo from Ground Zero
His life, the universe and everything

His life, the universe and everything

New biography sheds light on comic genius of Douglas Adams
Save us from small screen superheroes

Save us from small screen superheroes

Shows like Agents of S.H.I.E.L.D are little more than marketing tools
Reach for the skies

Reach for the skies

From pools to football pitches, rooftop living is looking up
These are the 12 best hotel spas in the UK

12 best hotel spas in the UK

Some hotels go all out on facilities; others stand out for the sheer quality of treatments
These Iranian-controlled Shia militias used to specialise in killing American soldiers. Now they are fighting Isis, backed up by US airstrikes

Widespread fear of Isis is producing strange bedfellows

Iranian-controlled Shia militias that used to kill American soldiers are now fighting Isis, helped by US airstrikes
Topshop goes part Athena poster, part last spring Prada

Topshop goes part Athena poster, part last spring Prada

Shoppers don't come to Topshop for the unique
How to make a Lego masterpiece

How to make a Lego masterpiece

Toy breaks out of the nursery and heads for the gallery
Meet the ‘Endies’ – city dwellers who are too poor to have fun

Meet the ‘Endies’ – city dwellers who are too poor to have fun

Urbanites are cursed with an acronym pointing to Employed but No Disposable Income or Savings
Paisley’s decision to make peace with IRA enemies might remind the Arabs of Sadat

Ian Paisley’s decision to make peace with his IRA enemies

His Save Ulster from Sodomy campaign would surely have been supported by many a Sunni imam
'She was a singer, a superstar, an addict, but to me, her mother, she is simply Amy'

'She was a singer, a superstar, an addict, but to me, her mother, she is simply Amy'

Exclusive extract from Janis Winehouse's poignant new memoir
Is this the role to win Cumberbatch an Oscar?

Is this the role to win Cumberbatch an Oscar?

The Imitation Game, film review
England and Roy Hodgson take a joint step towards redemption in Basel

England and Hodgson take a joint step towards redemption

Welbeck double puts England on the road to Euro 2016
Relatives fight over Vivian Maier’s rare photos

Relatives fight over Vivian Maier’s rare photos

Pictures removed from public view as courts decide ownership
‘Fashion has to be fun. It’s a big business, not a cure for cancer’

‘Fashion has to be fun. It’s a big business, not a cure for cancer’

Donatella Versace at New York Fashion Week