Boris Johnson reclaimed Downing Street with a thumping majority victory in the 2019 General Election, and the Conservative Party is now tasked with honouring its manifesto pledges for self build and the homebuilding industry, so where do the Tories start?
Pre-election polls had widely predicted a Conservative victory, but even Team Johnson would’ve been astonished once the exit poll predicted a 86-seat majority for the government, with Labour predicted to make its worst election performance since 1935.
In the end, the exit poll was spared the ignominy it experienced following the 2017 election. The Conservatives will now lead the country, and once this Brexit thing is ostensibly resolved, one of the government’s primary directives should be to fix the UK homebuilding crisis.
Building for the Future
The Conservative Party has faced regular criticism for its failure to progress towards its target of building 300,000 homes a year. In its manifesto, the Conservative Party emphasised its bid to continue with this plan, which will reportedly lead to at least a million more homes being built over the next Parliament.
The Conservatives will also offer more homes to local families who cannot afford to buy in their area, which will reportedly be achieved through discount homes in perpetuity by a third using developers’ contributions.
Additionally, the government will maintain its commitment for Right to Buy for all council tenants and extend the Help to Buy scheme from 2021 to 2023.
Self Build Focus
The Conservative Party was the only major political party to directly reference self build, promising to help first-time self builders access the Help to Buy scheme using 5% deposit mortgages.
Moreover, the government pledged to “support community housing by helping people who want to build their own homes find plots of land”.
While the details behind the Conservatives’ pledge remain to be fleshed out, the reference to the self build industry is potentially significant for the sector.
The Conservatives also announced an intention to build environmentally-friendly homes, namely to “support the creation of new kinds of homes that have low energy bills and which support our environmental targets and will expect all new streets to be lined with trees”.
Boris Johnson’s party will also champion innovative design and technology to make housing more affordable, although the specifics behind this plan have not been included.