Housing crisis: is the worst behind us?
The UK is in the midst of a housing crisis. It’s a grim reality but one we’re all well aware of – with rents soaring all over the country and a huge shortfall of homes available, there’s simply not enough supply to keep up with the demand.
Between 2011 and 2014 just 460,000 homes were built – less than half the number required according to forecasts from the National Housing Federation.
The situation has undoubtedly improved over the past few years as we’ve clawed our way out of the recession, but will the country ever get to where it really needs to be?
This week Housing Minister Brandon Lewis announced that the Government is aiming to build one million new homes by 2020. It’s a tough target but the industry is optimistic, according to a new report by Lloyds Bank.
Our client Story Homes contributed to the Building for Growth report, providing an in-depth case study of the measures the business has adopted to deliver well designed and built homes, in desirable locations, for discerning customers.
CEO Steve Errington said: “We’re confident that the combination of excellent homes, satisfied customers and the best employees in the business will continue to fuel the enormous growth we have enjoyed over the past two years.”
The family-owned business is on the Sunday Times’ 100 fastest-growing privately-owned UK companies list – and has ambitious plans to become a national housebuilder.
With 18 developments in Cumbria, the North West, the North East and Scotland, and many more awaiting planning approval, Story Homes is set to contribute significantly to the Government’s plans. It just remains to be seen, if other companies will follow suit.