Talk to anyone in the residential real estate sector, and whatever their role or political persuasion, you will get consensus on one thing - we do not currently build enough good homes, of the right tenure, in the right places.
Whilst private housebuilders, housing associations and local authorities each come with their own lists of requirements, all have the 'will' to deliver homes. So why is it that we are still falling well short of the homes the country needs?
We are seeing an acknowledgement that the traditional means of supply are not delivering. All sectors recognise the need for more formal collaborations and the use of partnerships to unlock the barriers to delivery. There is real appetite, for example, between local authorities and housing associations to form formal joint ventures, with a true sharing of risk and reward. Such partnerships are being rolled out to deliver both affordable and market led housing and can offer many benefits to both parties, beyond the initial delivery of homes. We are also seeing the private sector engage in partnerships with local authorities, together with the continued demand for more traditional JVs/partnerships between housing associations and developers.
The market buzzword is "partnerships" but the real challenge is how to overcome hurdles and make these partnerships deliver. We discussing these challenges across all sectors to facilitate and identify the barriers to delivery. We will be sharing our findings, so there's more to follow.
