Bromford call for more government support to the development sector
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In light of last week's announcement that growth in the construction and development sector had declined, Bromford's Director of Development, Penny Downing, is calling for more support for providers of affordable housing.
With figures released last week showing a drop in construction activity by 2.5% nationally, we know that there are regional fluctuations with stronger evidence of supply in the south and more challenging market conditions in the Midlands and North.
At Bromford, one of the UKs leading social business’, the development of high quality affordable homes remains a key priority and we have sustained an average programme of 700 new homes per annum, working with both our in-house construction arm and through partnership working. As with many developers we have refocused our investment activity and in order to meet ever increasing customer demand we are looking at housing development without government subsidy as well as using grant opportunities as they present themselves.
In addition to new projects led by our in-house construction team BDL (Bromford Developments Ltd), we are engaging with local construction companies to offer new long-term partnerships, helping to support our local economy.
We still feel the Government could do more for the affordable housing sector. The Government’s grant-funding regime does not provide us with stability and certainty for the future, with recent stimulus packages being directed towards the private market.
To help grow development in the UK, the Government must release land quicker, reduce the bureaucracy around the process of development and give confidence to developers to start new housing schemes.
Bromford has seen fantastic results in its own development programme in the year 2012/13 including 748 new homes started. Click to download our 'New Homes Highlights' infographic to see our full year end stats.