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Posted: 08.06.15

Barratt says election result is positive move for housing industry

Barratt says election result is positive move for housing industry

One of the UK’s leading housebuilders has spoken out following the recent Conservative election victory.

Big five housebuilder Barratt Developments, has said the result will prove positive for the industry, and will signal a “supportive” environment for housebuilding to grow, and a commitment to the help-to-buy loan scheme.

Barratt said: “The new government has identified increasing housing as an important priority area, and we are committed to playing our part. We look forward to working with them to deliver this important objective, which will need to be supported through further releases of public sector land, and continued pressure on local authorities to deliver local plans.”

The Conservative win quashes Labour’s plans to introduce a mansion tax on homes worth £2m or more, and to cap rent increases in the private sector. However, Barratt’s chief executive Mark Clare said that a Labour victory would have been equally focused on delivering more homes in the UK, albeit with a bigger focus on affordable homes.

Clare said the issues facing the industry were on the housing supply side, not demand, “and that’s what politicians should be focusing on.”

Augustin Eden, research analyst at Accendo Markets, said: “Government policies such as the upping of tax thresholds for everyone and the extension of right-to-buy for social housing tenants will help to increase housing demand across the board rather than in one area only – so-called affordable housing. All housebuilders arguably stand to benefit from this.”