Many commentators are speculating over the timing of the next election and the scope for Parliament to make decisions. With so much uncertainty, many feel it will be impossible to conclude all Brexit negotiations by March 2019.
Just days after the 2017 General Election, The Chief Executive Forum discussed the likely consequences for housing in the context of the minority government.
There is concern that this could have an adverse effect on much needed funding for affordable housing so the sector should explore flexible funding options with investors to secure additional capital.
Economic analysis has shown that in past periods, there has not been a strong correlation between political uncertainty and economic downturn.
Early thoughts from around the industry were that in the situation of a hung parliament, various policy decisions which are controversial will not be able to go through. Private sector businesses will have to step up to provide more affordable housing. Starter homes and CPO reforms appear now very unlikely as the decision making process is likely to be protracted.
The key issue is why only a small number of local authorities are driving forward housing supply and looking for models to build homes in areas where market sale is not viable.
We also need to consider how the seemingly dysfunctional housing market can be made to work better for those that are not fortuitous enough to already own a home.
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Contributors:
Nigel Turner, Executive Director
Kier Group
John Anderson, Executive Director
Kier Living
Alan Benson, Head of Housing Strategy & Commissioning
London Borough of Haringey
David Ganniccot, Group Business Director
The Hyde Group
Alan Wright, Partner – Architecture
BPTW
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