Developers Call for Better Support for First-Time Buyers from Next Government

A recent survey by Shawbrook has revealed that a staggering 86% of developers believe that the next government needs to do more to support first-time buyers (FTBs). The research, which was carried out among more than 500 UK property developers, highlights the need for the government to take action to support this crucial sector.

The UK housing market has been struggling in recent years.

The survey also found that developers seem to favour a Labour government, with 90% indicating that they believe it would benefit the housing market overall. This is likely due to Labour’s commitment to increasing the supply of affordable housing and supporting first-time buyers.

Streamlining the Planning Process

In addition to supporting first-time buyers, developers are also calling for the next government to focus on streamlining the planning process. A significant 35% of developers believe that this is essential to stimulate the construction and property development sector. This is likely due to the fact that the current planning process can be slow and bureaucratic, hindering the development of new homes.

The planning process can be a major obstacle to development.

Removing Red Tape

Furthermore, 30% of developers support the removal of planning red tape to incentivise developers. This is likely due to the fact that excessive regulation can stifle innovation and hinder the development of new homes.

Excessive regulation can stifle innovation and hinder development.

The Importance of Government Support

According to Terry Woodley, managing director of development finance at Shawbrook, the upcoming election has the potential to breathe new life into the construction and property development sector. He believes that the next government needs to deliver supporting legislation to stimulate the sector.

Terry Woodley, managing director of development finance at Shawbrook.

In conclusion, it is clear that developers are calling for the next government to take action to support first-time buyers and stimulate the construction and property development sector. By streamlining the planning process and removing red tape, the government can help to increase the supply of affordable housing and support the growth of the sector.

The UK housing market is in need of government support.