Supporting buyers is key to unlocking housing delivery

There has been a strong and welcome focus from Government in recent months on increasing the delivery of affordable housing.

Funding initiatives and policy support in this area are both important and necessary, particularly in addressing the growing need for affordable homes across the country.

However, if we are to truly increase overall housing delivery, it is essential that equal attention is given to the private housing market.

Across the industry, there remains growing concern that sales rates for private homes are at some of the lowest levels seen in recent years. For developers, this presents a significant challenge. Regardless of planning permissions or land availability, the ability to deliver new homes ultimately depends on demand.

Without sufficient sales, sites become increasingly difficult to bring forward. Development slows, phases are delayed, and in some cases, projects may not proceed at all.

In this context, focusing solely on supply-side measures will not be enough.

To stimulate the market effectively, there needs to be greater support for buyers. This could take a number of forms, including improved access to mortgage lending, measures to support affordability, stamp duty reductions or exemptions, or the introduction of initiatives similar to the previous Help to Buy scheme.

Such support has historically played a key role in enabling buyers to enter the market, particularly first-time buyers, and in turn has helped to maintain the momentum of housing delivery.

A balanced approach is essential. Affordable housing delivery must remain a priority, but it should be supported alongside measures that ensure the private market remains active and viable.

Without this balance, there is a real risk that overall delivery will fall short of the levels needed.

At Westcountry Land, we work closely with landowners, developers and local authorities to bring forward sustainable, deliverable sites. From our experience, a healthy and functioning private market is critical to ensuring that these sites come forward and ultimately deliver new homes.

If we are to meet housing need, both supply and demand must be addressed together.