Housing industry fears cuts will damage recovery

More than two-thirds of respondents to an online poll by Building have said that the £6bn of cuts announced by the government present a serious threat to the housing market recovery.

Seventy-one per cent of respondents to the poll, which was taken of attendees to tomorrow’s Housing Now virtual event, said the £6bn of cuts already identified by the coalition administration threaten the housing market revival.

Just 17% said the cuts, which include £230m of specific cuts to Homes and Communities Agency funding, alongside a further £600m of previously promised funding which is now unlikely to materialise, were not a serious threat.

Since the cuts the HCA has suspended all funding decisions and put its kickstart programme on hold until at least the budget on June 22.

Respondees to the poll also showed little confidence the coalition’s policies would increase the construction of new homes, but warmly welcomed the early decision to scrap Home Information Packs.

For the full details of the poll findings, please visit the Housing Now event tomorrow.  

Housing Now is a new free-to-attend virtual event for housing professionals. It will take an in-depth look at private housing, public sector housing, high-rise residential and student accommodation by analysing the current market and addressing the issues and challenges facing the housing sector.