Trowers & Hamlins is excited to be at Housing 2025, and despite the slightly damp weather in Manchester, reflecting on the real sense of "the moment is now" to shift the dial on housing delivery. Homes of all tenures, but especially affordable homes.
There is no denying that there are still challenges – planning, the skills gap, the delays with the Building Safety Regulator, viability – but absolutely a sense that the Government is listening and understands the importance of housing, in its own right, but also as an integral part of the wider economy.
In the development space, there are some interesting themes emerging. Firstly, (and notwithstanding the good news stories of the £39bn AHP, the rent settlement and the role of the National Housing Bank), is the important role that partnerships and joint ventures will continue to play. Joint ventures have been a significant part of the development projects that have progressed over recent years, and given the ongoing constraints for housing association's balance sheets, are likely to continue to have a key role. Not just partnerships with housebuilders/developers, although those are key, but also with investors and local authorities. The messaging from the government clearly places emphasis on council and devolved authority housebuilding, but in many cases, those bodies lack expertise and capacity – a perfect opportunity to work with RPs and developers.
Much discussion around the role of s106 in the delivery of affordable homes. The new AHP is not going to unlock the thousands of affordable homes that developers are struggling to find RPs to take. The challenges of s106 as a method of delivery, go beyond price and capacity, to the fundamentals of design and control over longer term items such as service charge etc. Unless there is an outlet for the s106 affordable homes, the whole housing market is stymied as developers cannot bring forward the other tenures. Do we need to rethink how s106 homes can be pooled to help tackle the temporary accommodation crisis.
And what of tenure – all too often we focus on a linear split of private versus affordable – but within those 'badges', there are all types of products/housing options. As Trowers & Hamlins' Ages & Stages report highlights, we need to look at changing demographic trends, to understand what typologies of homes are needed. For example, first time buyers, are now more likely to be a couple with a child, rather than a single professional. At the other end of the housing timeline, the under occupation of homes by over 60s years, perhaps could be unlocked by real thought and expansion of mid-market retirement living. It's not just a case of black and white (private homes or affordable homes) – there are lots of shades of grey which will all go to delivering 1.5m homes.
