The Housing White Paper covered a lot of ground, but its focus on offsite and modern methods of construction was of particular interest – especially as this is currently such a ‘hot topic’ in the property industry.
The paper cited offsite construction as being the key to tackling the housing shortage; in the report, Secretary of State for Communities and Local Government Sajid Javid said that a lack of competition in the housing market was stifling growth. To tackle this, a new £3bn ‘Home Building Fund’ was introduced; the fund will supply loans in an attempt to increase the number of homes built by SMEs and offsite construction firms.
By the Government fully endorsing modern methods of construction and justifying investment, greater confidence and certainty around offsite – both among SMEs and the wider construction industry – can start to grow. With the ‘Home Building Fund’ in place and momentum around offsite gaining, the real benefits of this technique can start to be realised. It doesn’t just make development delivery quicker, it is also more cost-effective and sustainable – efficiencies and benefits we should look to encourage on all projects.