Today’s launch of the New Homes Bonus (NHB) consultation is a key milestone in moving towards the introduction of the Government’s new housing policies. The NHB forms an integral part of the Government’s housing plans and its speedy introduction is essential if we are to avoid disrupting future housing supply. Along with the Localism Bill, expected later this month, we are starting to see the planks of the new system revealed. What is now imperative is that Local Authorities (LAs), who saw their funding cut in the Spending Review, understand how this new system provides the opportunity to generate significant income – and that it comes into effect immediately, covering homes built from now. Since the core of the old system, the Regional Strategies, were scrapped in July – a move reversed in the High Court on Wednesday – Local Authorities have been operating in a ‘policy vacuum’. Wednesday’s decision and today’s announcement mean that LAs can plan to meet their future housing needs more confidently, taking advantage of the financial rewards on offer. Last year saw the lowest number of new homes built since 1924. Clear planning and housing policy is essential if supply is not to drop still further and a shortfall of homes, already estimated to be approaching a million by HBF, is not to continue to increase. Speaking today, HBF executive chairman Stewart Baseley said; "The country is facing an acute housing crisis and it is imperative we have a planning system that delivers sufficient land for the homes we need. The New Homes Bonus is an essential part of the new incentive based structure and we welcome the commitment to a simple, easy to understand system." For media enquiries, or to arrange an interview, please contact Steve Turner on 020 7960 1606 / 07919 307 760 or steve.turner@hbf.co.uk Follow us on Twitter! www.twitter.com/homebuildersfed Notes to Editors: 1. The Home Builders Federation (HBF) is the representative body of the home building industry in England and Wales. The HBF’s 300 member firms account for some 80% of all new homes built in England and Wales in any one year, and include companies of all sizes, ranging from multi-national, household names through regionally based businesses to small local companies: www.hbf.co.uk
