RICS recommends long-term improvements to housing market

UK Government needs to look holistically at long-term improvements to the housing market as the harsh economic reality sets in, according to a new policy paper from RICS.

A new land classification, ramping up modular home use, and further interventions into planning and development, home ownership and the private rented sector are at the forefront of recommendations, as RICS urge Government to ensure the public is kept at the heart of any changes as confidence remains cautious. 

Medium term recommendations for the housing market, the implementation of some of which will also help the market recover from Covid, include:

• Further investment in MMC (Modern Methods of Construction) with incentives for the construction of MMC factories in areas of high unemployment.
  
• Offer financial incentives and support to local authorities and housing associations to meet housing need through MMC.
  
• Prioritise work around new build standards, as research has found quality to be significantly reduced in permitted development schemes.
  
• Bring all elements of planning including residential, high streets, transport and commercial into one holistic policy of placemaking.
  
• Thoroughly assess Government home ownership offerings to ensure they actually achieve what was intended.
  
• Implement Lord Best’s Regulation of Property Agents (RoPA) recommendations.
  

As we venture into the “new normal” and imagine a post-COVID world, the impact of our homes on our health is more vital than ever. As we increasingly work from home or in a more flexible manner, RICS calls for Government to provide healthy homes and communities through the planning process. A holistic policy of placemaking can also help local high streets see a revival and good infrastructure such as improved pathways and cycleways can facilitate our move into the new world as we Build Back Better.

RICS’ long term recommendations include:

• A program of consumer education on MMC to promote greener, better quality homes.
  
• The introduction of Amberfield as a new land classification – creating a pipeline of ‘ready to go’ land for housing.
  
• The creation of a new housing court to simplify the dispute resolution process
  

Tamara Hooper, RICS Policy Manager, comments: “Our homes are more than just walls and a roof, and the impact of our homes, where they are located, the community assets and green spaces all impact upon how we live our lives and cannot be underestimated. As we move towards a better built future, we must build homes that enhance communities for those who currently live there, that are interconnected with green spaces, non-car dependent infrastructure, and are close to shops and other amenities that make a community thrive, whilst leaving a greener future for generations to come.”

“The new normal is an opportunity to innovate and ensure that we don’t just build houses but build homes that can meet green targets and net zero ambitions, utilising new technology and delivery mechanisms that provide jobs of the future.”

The paper in full can be viewed here, including all RICS recommendations for next steps in the housing market.