UK Housing Review 2018: CIH Cymru reflects on positive progress by Wales
The Chartered Institute of Housing has today launched the UK Housing Review 2018. The review highlights the latest data and provides commentary on the impact of housing policy across the UK.
For Wales the review highlights that investment in the sector has been growing and is showing its strongest level since the economic crash in 2008. Net housing capital investment by local authorities and housing associations in Wales, in cash terms, is at its highest ever level and has breached £400m for the first time (£414m). Including private finance it has breached £600m for the first time.
This is having a positive impact on supply and the prospect for achieving the affordable homes target. Local authorities are forecasting the completion of 3,000 homes in 2017/18: if this is achieved, when added to the previous year’s output it will still leave around 8,500 to be delivered over the remaining three years. The review notes that housing associations are close to achieving their share of the target, but local authorities will need to double their output to achieve their share.
Responding to the review Matt Dicks, director of CIH Cymru, said:
“This review shows the excellent progress we are making in Wales in ensuring housing policy has the intended impact by boosting the supply of social and affordable housing while delivering services that support some of the most vulnerable in society.
"It is encouraging that the levels of investment in social housing is showing that in practice, if building efforts continue then the 20,000 affordable homes target will be met. Given the ambition underpinning this target, where the rate of building would need to be comparable to those unseen for decades this is a real success story for the sector, and offers a good base from which to really drive forward and tackle the housing crisis in Wales.
"We know that as important as delivering homes at pace is, the need to ensure standards continue to increase, and innovative carbon-neutral, energy-positive homes become the norm must run in tangent. We have an opportunity, through the recent indication that there will be a review of housing policy in Wales by the Minister for Housing and Regeneration, to use this information as a springboard to set the right tone, balance and ambition for housing in Wales.”