Arthur Online takes a look at ‘The Savills Housing Sector Survey 2018’’ and summarises the key points from the survey that will define the future development and activity.
- 64% of those in the industry believe that the top priority is to build more homes for the housing sector. In comparison 36% of people in the industry believe they should manage existing homes as a priority. These figures are consistent across geography, age and sub sectors.
- 94% of respondents believe that the top housing priority is one of three groups: those working households who can’t afford to rent in the current market, homeless and vulnerable people. Currently the respondents agreed that the needs of these three groups are not being met.
- 86% of respondents believe that the housing sector isn’t doing enough to tackle the housing crisis. However, 75% of the 85% say there is potential in their organisations to evolve and innovate further to help solve the problems.
- The sector as a whole thinks that social rent is the right tenure to meet the need in most cases and that more organisations will deliver it than last year. However, the focus groups of senior housing association leaders are less concerned with tenure labels and want to focus on getting people into suitable and affordable homes.
- 73% of housing association leaders recognise the challenge of increasing the supply of homes and that is has become a priority over the past year. There are several barriers that exist to growth. 85% of organisations said access to land was a challenge and 43% said that they needed to change financial arrangements to deliver their development aspirations.
- Brexit is not a big worry for housing association leaders and the focus groups as they are only expecting minimal impact on their businesses apart from construction capacity and costs.
- Competition for developing land is increasing as both large and small housing associations are increasingly entering the market as an alternative to acquiring stock through selection 106.