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Housing: how hard is it to keep people, not profit in mind?
House building must be ‘attractive’ to people who need a house, not to the for-profit private developers, writes SOLOMON HUGHES

LABOUR says if it is elected, their big idea to help the housing crisis is deregulation.

Everybody knows not enough houses are being built and the price of houses is too high, leaving many trapped in poor quality private rented accommodation or struggling with hard-to-afford mortgages. Labour proposes making planning laws more developer-friendly.

They hope that if developers find it easier to build on the green belt, overcome local rejection of proposed estates, or get free development areas in “new towns,” they will build more houses and prices will come down.
 
But the latest accounts of Bloor Homes, like the accounts of so many housebuilders, suggest this “market” solution to a market failure won’t work.
 
Bloor Homes are a mid-sized housebuilder, but one with a fair political influence. John Bloor is one of the Tories’ top donors, having given the party around £2.7 million since 2015.
 
The latest accounts, released this month but covering the year to June 2023, show Bloor Homes is finding the market a bit tighter. The accounts note that “increases in mortgage loan rates” have “made the landscape more challenging” for housebuilders, while they are also being squeezed by “cost inflation in our supply chains.”

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