Phoebus comments on new housebuilding plans (NPPF) – “major problems”

13 December 2024

Richard Pike, chief sales and marketing officer at Phoebus, said: “I have yet to meet a single person in our industry who believes that we will hit the housebuilding target of 1.5 million homes over the next five years. Lack of employees in the construction sector, increased materials costs and, of course, the lack of non-greenfield sites are all pretty major problems!

“Housing stock, whether owned or rental, is at a premium. I find it incredible that commercial real estate that is currently empty following the pandemic is not being utilised for residential needs. I also believe that developers must be incentivised to develop rather than sitting on sites for elongated periods.

“That said, on the plus side, if the plans are embraced by industry and momentum gathers pace, we should see some invigoration in local business and the overall economy.”