But mutual's members offer ways to support target of building 1.5 million homes
A large majority of Family Building Society members do not believe the UK government will meet its goal of building 1.5 million homes during the current parliamentary term, according to a recent member survey.
Over 82% of respondents expressed scepticism about the target, reflecting broader industry concerns about housing delivery. A previous webinar poll of property professionals mirrored this outlook, showing widespread doubt that the government’s housing target are achievable within the set timeframe.
Despite this, survey participants offered a range of proposals they believe could help. More than half backed building on brownfield sites and land with existing planning approval. Scrapping stamp duty for downsizers was also a popular measure among respondents.
Planning reform ranked high on the list of priorities, with 41% supporting changes to the current system. Meanwhile, 27% backed a return of the Help to Buy scheme. Almost half of respondents suggested giving landlords incentives to convert commercial buildings into residential properties, and many also supported raising the infrastructure levy to benefit local communities.
“Our members have delivered a stark verdict on the government’s ambitious housebuilding target,” said Alistair Nimmo (pictured), director of marketing at Family Building Society. “In their minds, it is just not achievable through the current policy mix. “However, they make some valid suggestions of what measures the government could take to help provide additional homes.
“Developing brownfield sites and repurposing existing and empty commercial property, for example. They also highlight Stamp Duty Land Tax as a major disincentive for older people to move and free up more of the existing housing stock.
“Ending the stamp duty holiday and the subsequent reinstatement of the lower thresholds on April 1 was a mistake and it is interesting to note that most of our members favoured scrapping it for downsizers which will free up more properties for growing families.”
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