Heather Powell, Partner, said:

The Government need to think beyond their fixation with planning, and work closely with industry leaders to give the property sector the tools, and in particular the workforce, to deliver the growth that is so desperately needed.

The housing market, and the number of transactions, is a barometer of economic growth – and there is no growth in this market. HMRC’s latest statistics show an increase in the sale of homes in February 2026 (102,410) compared to January 2026 (96,940). However, it is important to look beyond monthly variations, house sales are not increasing year on year and the market is stagnant. The long-term trend is for 1 million properties to be sold a year in the UK – if we ignore the 2021-22 post covid boom.

The property market must be re-invigorated. The Government have a target of delivering 1.5million new homes in the life of this parliament – HMRC’s figures clearly illustrate that these are not being delivered. While planning is an issue that the government is addressing, the key issues of construction cost inflation (running at more than 10%), and “viability” – the ability to build a house for a price that buyers – be they first time buyers or families moving up the chain –can afford has not been addressed.

The Government can make a contribution to slowing construction cost inflation by investing in attracting and then training new workers. Attracting school leavers to the industry, and then ensuring that they get the training to enable them to work effectively on sites, and embrace modern methods of construction is something the Government can influence if they work with construction and building companies.

The average age of all construction workers on site is now over 42, and 35% are over 50. Only 20% are under 30. Bringing well trained school leavers into the industry will assist in reducing unemployment in this age group, and provide long-term, well-paid jobs that will last them a life time.

Heather concluded:

The purchase of a home is an expression of confidence from the buyer – and a sign of success in actually accumulating the deposit required, particularly for first time buyers. New homes at a price that are affordable, and mortgage rates that ensure monthly payments are within the budget of individuals and families are critical.

Would you like to know more?

If you’d like to discuss the above, please speak to your usual Blick Rothenberg contact or Heather Powell using the form below.