Summary
The UK government aims to build 1.5 million new homes by 2029. Housing Secretary Steve Reed acknowledged that a sharp increase in construction is needed to meet this target. The government plans to implement planning reforms and make building approvals easier to boost housing development.
Key Facts
- The UK government's target is to build 1.5 million new homes by 2029.
- The current rate of new homes started has fallen to 139,000 annually.
- The Planning and Infrastructure Bill is intended to speed up decision-making for home building.
- Plans include making it easier to approve homes near public transport.
- The Office for Budget Responsibility forecasts 1.49 million new dwellings, slightly below the target.
- The Home Builders Federation warns the target is hard to meet without more support for first-time buyers.
- A landfill-tax increase is said to add £14,000 to each home build.
- Ministers aim to reduce reliance on big developers and involve smaller builders and councils more.
