England, Wales, Scotland & Northern Ireland
UK Housing News
Comment on the Budget and the election battleground that is housing
Image: ask
Commenting on this week’s upcoming Budget and what might be expected for housing, Daniel Austin, CEO and co-founder at ASK Partners, said: “With housing set to be a battleground point in this year’s election, it is expected to feature heavily in Wednesday’s Budget. As the sector moves to the top of the agenda for all parties, we hope to see a long-term plan for new homes, including social housing, however, we expect we will see more short term fixes. Stimulus will be welcome but can create unnecessary froth. Voters and developers alike will be keenly listening out for housing policy in the Budget. For voters, a stamp duty holiday or reprieve may be a welcome sign. For developers, eased planning regulations for brownfield sites and conversions will be popular.
“However, the government will be faced with a challenge - striking a balance between trying to increase housing supply and therefore affordability by supporting developers and private landlords, but appealing to voters who do not want to see greenfield development. The planning system remains hotly political and as a result, landlords and developers are unlikely to see much in their favour.
“As a debt provider, we hope to support the best sites in prime locations with well-capitalised sponsors who understand their product. Following this strategy, we aim to bolster developers' initiatives with the flexible underwriting approach that is necessary for navigating current planning rules and market uncertainty. This will enable us to continue to offer opportunities for the growing number of private individuals opting to invest in property debt.”
Daniel Austin, CEO and Co-Founder
