No excuses to not build 1.5m new homes, Rayner says
Published On Feb 9, 2025, 5:57 AM
Deputy Prime Minister Angela Rayner has emphasized the UK Labour government's commitment to building 1.5 million new homes by 2029, despite challenges such as declining house construction numbers and shortages of skilled workers and building materials. Labour aims for this target to lower house prices and improve housing affordability, particularly for younger individuals. However, the construction industry expresses skepticism about reaching these goals. The government also plans to reform the home-buying process to make it quicker and empower leaseholders regarding building management.
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The housing market often reflects broader economic conditions, and with Labour's ambitious target to increase home construction, there may be heightened demand for construction materials and services. However, skepticism from industry experts and existing challenges could weigh on housing sector performance. If Labour succeeds, it could boost economic growth and housing sector stocks; if they fail, it might negatively affect related sectors.
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