Partner Article

Public-Private Partnerships will tackle housing shortage

Closer collaboration and greater risk sharing between the public and private sectors is needed to address the UK’s housing shortage, guests were told at a business luncheon in Leeds.

Amidst the reported shortfall of affordable homes, the industry needs to join forces in order to maintain development pipelines that offer a wider variety of ownership solutions, according to Andy Doylend, Partnership Housing Director for national developer, Wates Living Space.

Addressing an audience of industry professionals at The Malmaison in the city centre, Doylend emphasised that the need to maximise the value of public sector land and assets has never been greater, and this will only be achieved by working together.

The event was organised by membership network, The Housing Forum, and was attended by CEOs from organisations and businesses responsible for developing and improving Yorkshire’s housing stock.

Andy Doylend, commented: “There is no doubt that this is a time of great challenge as the UK strives to meet the need for new and affordable housing. But it is also a time of opportunity. Collaboration has the potential to open up innovative development models and funding solutions that will unlock access to home ownership.

“Of course, it is critical that housing solutions reflect local issues and need. Local markets are changing significantly and separating into distinct sectors defined by location, heritage and value. Relationships must be fostered between developers, local authorities, housing associations and local politicians to tackle availability, access and affordability locally.

“The Housing and Planning Bill reinforces the government’s ambition for home ownership – evidenced by the policy focus on the Starter Homes scheme. This will certainly help to improve the housing offer and drive growth in areas where house prices are relatively low, with the 20% market discount an attractive proposition for first time buyers. However, shared ownership may be a more viable option in some locations, particularly across the South. Here, market prices are significantly out of reach for buyers stepping onto the property ladder. This reinforces the importance of a locally led partnership approach.

“We must also not forget the potential of mixed developments. A blend of tenures in one location can lead to greater integration and create more cohesive communities. However, the move towards mixed tenures is a significant change in proposition for the public sector. This is where developers like Wates play a pivotal role. We can support Housing Associations and Local Authorities with the commercial skills needed to move into home ownership sales, whilst also sharing the market risk.

“The clear solution is to work together to share knowledge, best practice and innovation. By joining forces we will develop tangible solutions to help mitigate the housing crisis. The power of partnership cannot be underestimated.”

This was posted in Bdaily's Members' News section by Helen Salvin .