Britain has been facing a housing shortage for decades, and the promises of 300,000 new homes a year remain unfulfilled. In this episode, Paul & Lewis Herbert explore why affordable housing is disappearing, how policy changes and planning hurdles have hurt small developers, and what it means for families struggling to buy or rent.
KEY TAKEAWAYS:
Housing Shortage Crisis: Britain has long failed to meet housing demands, with government targets of 300,000 homes per year largely unmet. This shortage drives up prices and rents, disproportionately affecting lower-income households.
Decline of Smaller Developers: Since the late 1980s, small and medium-sized enterprise (SME) builders have dwindled due to complex planning regulations and market pressures. Their decline has reduced bespoke, community-focused housing development.
Impact of Policy Changes: Shifts in policy, particularly since the 1970s, have reduced the construction of social and affordable housing. The move away from council housing has increased reliance on an increasingly unaffordable private rental market.
Affordability Issues: The gap between income and housing costs has widened, making homeownership harder for younger generations. Families now face much higher multiples of income to afford a home compared to previous decades.
Need for a Comprehensive Strategy: Solving the crisis requires a cohesive approach that addresses housing needs at all income levels. Building more homes and ensuring affordable options are available is critical to preventing homelessness and supporting vulnerable populations.
BEST MOMENTS:
“We haven't been building enough homes for years and years, particularly since the mid-'70s.”
“The people who suffer the most... are on the bottom rung of the ladder.”
“I can't support claiming we're going to build 300,000 unless I can see where the numbers come from.”
“The ability to put up buildings… with modern methods… is not the only solution.”
“Housing is a bit of a tragedy and it is now swallowing a far higher percentage of a lot of people's incomes.”
ABOUT THE HOST
Paul Higgs is a Chartered Planning and Development
Surveyor with 40+ years' experience in land, planning and development and a 100% success track record in winning planning consents.
Paul undertook his first refurb project when he was
just 17 and then worked his way up from labouring on building sites to becoming Head of Land for renowned plc housebuilder, Barratt Developments. He managed to escape the corporate world in 2002 to set up what is now a multimillion-pound award-winning property development company, Millbank Group.
In 2013 Paul founded the Millbank Land Academy, the UK’s first training company dedicated to property development; to teach
established and aspiring developers the insider secrets the big housebuilders don’t want you to know!
Paul is also a founding investor and former board
director of the industry-leading PropTech Co, LandTech, and has lectured on Advanced Development Valuations on the MSc Property Development at London South Bank University.
CONTACT METHOD
LinkedIn: https://www.linkedin.com/in/paul-higgs
Millbank Land Academy: https://www.millbanklandacademy.co.uk
Instagram - https://www.instagram.com/paulhiggsofficial
YouTube - https://www.youtube.com/@InsidePropertyDevelopment
This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/