The government’s £5bn housebuilding package won’t do enough to meet the UK’s rampant demand for homes, warns Charles Haresnape, Aldermore’s group managing director.
The Treasury has set aside £2bn for housebuilding and Sajid Javid, communities secretary, confirmed that a £3bn fund will provide loans to small housebuilders at the Conservative Party Annual Conference today.
But Haresnape (pictured) said: “Far more needs to be done for the UK to tackle supply issues, as this additional funding is not enough to match demand.
“Aldermore has long made clear its commitment to smaller developers and the vital role they have to play in solving the housing supply deficit.
“Years of missed recommended housing targets since the Barker Review have led to a housing shortfall of over a million properties, and the proportion of houses built by SME developers has steadily fallen since the 1990s.
“The Chancellor’s renewed commitment to the loan fund for small house builders will provide welcome certainty to those looking to embark on new projects.”