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The housing market is broken – so let us fix it

The Government published its much-anticipated Housing White Paper today. After much campaigning on this issue, the White Paper paved the way for a review of space standards. Here’s what our Chief Executive, Martin Skinner, had to say:

“We are delighted that the Government plans to review the Nationally Described Space Standard and hope that this will enable us to deliver our successful micro living model through new-build. The space standard does not apply to Permitted Development conversions – and since the Government introduced this policy in 2013 – we have been able to deliver nearly 400 micro-apartments, many of which have been sold to young professionals earning the average London salary.

“According to the HBF (Home Builders Federation), small developers were responsible for 40% of new homes in 1988, compared to just 12% today. I’m pleased that the Government recognises the urgency in reversing this trend. However, the recent attack on the buy-to-let sector has made it harder for us to fund new developments. We and many other SME (small and medium-sized) developers need to reach 50% off-plan sales before lenders will release development finance – and that means we rely on buy-to-let investors to get projects off the ground. We hope that some of the £3bn Home Building Fund will filter through to developers like us. SME developers are key to unlocking smaller sites and delivering new homes as quickly as possible.”

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