Housing: New Homes

Lord Best Excerpts

Tuesday 8th September 2020 Lords Chamber

[Lord Greenhalgh (Con)]

My Lords, the Government welcome the report of the Building Better, Building Beautiful Commission, and are at this point carefully considering its recommendations. A government response will be published in due course.

[Lord Best (CB) [V]]

My Lords, only a quarter of households in most places have a high enough or secure enough income to buy, even with support from schemes like Help to Buy and First Homes. Does the Minister agree that we cannot achieve 300,000 homes a year by continuing to rely on the housebuilders building homes affordable to only a quarter of households? Does he agree with Professor Glen Bramley that we need to build 140,000 homes a year that are affordable to those on average and lower incomes—in other words, more than twice as many as are being built by housing associations and councils today?

[Lord Greenhalgh (Con)]

My Lords, I recognise the importance of delivering housing of all types and tenures, and that is reflected in the new approach to housing need, which takes into account affordability as a key plank of the new approach to the formula. I just referred to the enormous amount of money— £11.5 billion—that is being set to deliver affordable homes in the next five-year period.