Video Transcription
Shaun Holdcroft:
So, the key changes I think that can unlock housing delivery over the next few years break down into two parts.
Firstly, I think government has already delivered on its promise to help deliver more affordable housing into the country. We're eagerly awaiting the results of the allocation from the Homes England and GLA grant programme later this year.
Equally, we all recognise that we're in a slightly challenging environment around viability right now. There's a huge amount of regulation and legislation that's found its way into the sector, for good reason, over the last few years.
But I think we've also got to think with government about what some of the balancing factors are that can help manage the transitional costs that come with adopting that legislation and regulation into the market, such that we can continue to make supply happen.
So, I think what excites me about the future of the sector right here, right now, is a big part of what we're doing at L&G Affordable Homes.
For the first time, we're really seeing institutional capital allied with the ability to originate and deliver new affordable housing, acquire existing affordable housing from providers in the marketplace and help to recapitalise those organisations, along with the maturing capability to manage those homes successfully, govern them and work within the regulated environment that is affordable housing.
The bringing together of those capabilities to allow us to raise capital, deploy it and then manage the homes that come out of the ground as a result of that really excites me in terms of the future of the sector and, fundamentally, what we're all here to do, which is to provide good-quality homes to people who need them.
Hopefully, that will reduce the number of people living in temporary accommodation and reduce the number of children who don't have the bedrooms they need to live in tonight.
