RICS says Budget pledges on housing are not comprehensive enough
A housing industry body has said the bold promises on housebuilding delivered in the Budget "don't match up" to ambitions.
RICS said the pledge of an extra £15bn of housing support – bringing the total package up to £44bn over the next five years – to deliver 300,000 new homes a year did not represent “the kind of comprehensive strategy” that was needed to tackle the crisis. It also bemoaned the lack of immediate impact, pointing out a statement by the chancellor that this yearly housebuilding target would not be reached until the mid-2020s.
Lewis Johnston, RICS parliamentary and public affairs manager, said: “Whilst the chancellor is right to say there is ‘no single magic bullet’ to increase housing supply, it requires a lot more than the proposals he has put forward, which amount to a series of marginal and delayed ‘nudges’ at a time when housing supply needs an almighty immediate shove.”