SPECIAL FEATURE: We need infrastructure too
Meeting pre-election commitments on housing supply is arguably easier than making tough and expensive decisions on infrastructure, which is required to sustain new builds and ultimately ensure they’re a viable and attractive proposition.
Failure to adequately invest alongside house builders could lead to already clogged roads surpassing their limits and poor access to basic services likes schools and hospitals. The like of which we’re already witnessing in popular regions like Cambridge and areas of London.
A centralised housing planning arm is the best way to address these and similar issues. We have ministries for health, food and transportation, so why does housing – arguably just as basic a need – lack a secretary of state? Affording housing the proper level of attention will ensure it receives the level of coverage and importance to meet the impact it has on our way of life.
If better roads, railways and public services are not created, we risk creating more regional house price disparity, further inflation in popular areas and people forced to live in overcrowded areas for a lack of alternatives.
As mortgage consultants, we want to see a progressive yet responsible and sustainable housing market and infrastructure is an area that causes us a lot of concern when we look ahead five years.