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Labour's 1.5m housing target: "If there's no goals, you can't score, so this is a deeply worrying statement from Matthew Pennycook"

ended 21. November 2024

Property experts have unanminously criticised the Housing Minister for not having annual housebuilding targets to achieve its parliamentary term goal of building 1.5m new houses. One said: “If there's no goals, you can't score, so this is a deeply worrying statement from Matthew Pennycook.” Another added: “What the UK needs is new homes, but without a proper measurement it is hard to see how they will be able to judge the ability to hit the required level, as committed to in their manifesto. You can just see Matthew Pennycook with his hard hat on shouting “can we fix it” and the rest of the country calling back “no we can’t”.” Their views are below.

8 responses from the Newspage community

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Ken James
Director at Contractor Mortgage Services
This is Labour's very own "Field of Dreams". If we build it, they will come, but will they build it? They have their very own get-out-of-jail card when it comes to targets, using the old “whole parliamentary term” target trick. This is starting to feel like an episode of Hustle, with misdirection and lots of lip service. What the UK needs is new homes, but without a proper measurement it is hard to see how they will be able to judge the ability to hit the required level, as committed to in their manifesto. You can just see Matthew Pennycook with his hard hat on shouting “can we fix it” and the rest of the country calling back “no we can’t”.
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David Stirling
Independent Financial Advisor at Mint Wealth
If there's no goals, you can't score, so this is a deeply worrying statement from Matthew Pennycook. The fact the government aren't breaking this down into achievable targets shows a massive oversight and a lack of proper business acumen from those in power. It will be interesting to see how they have fared after a year and what the excuses will be. It's another example of how politicians have no real world experience or understanding.
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Iain Swatton
Director at Exemplar Financial Services
Labour’s approach to their 1.5m homes promise appears to be: if you don’t set a target, you can’t fail. It’s a masterclass in low accountability—plan to fail or fail to plan? Either way, it seems the reality of governing is hitting harder than the slogans of opposition. Delivering results is tougher than delivering soundbites.
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Ranald Mitchell
Director at bad credit mortgage specialists Charwin Mortgages
Labour’s latest housing announcement is truly groundbreaking. They’ve found a way to build 1.5 million homes without the inconvenience of annual targets or accountability. A masterclass in promise repurposing. It looks like they won’t be breaking as much ground as expected and the absence of targets shows it was never an achievable policy. This is the latest excuse for the inevitable failure.
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Justin Moy
Managing Director at EHF Mortgages
The Labour honeymoon is well and truly over, with a sharp slap of reality now resonating around Westminster. The very basics of economics will tell you that targets are important to measure performance and ensure actions are focused on success. Perhaps the Housing Minister has been taking lessons from the other 'economist' on the front bench? A lack of housing targets, a poorly received Budget, escalating mortgage rates and a farmers' revolt is quite an achievement for the government in just the few months they have been in charge.
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Ben Perks
Managing Director at Orchard Financial Advisers
What a cop out. Government house building targets have always been the joke of the industry. Successive governments have failed to even get within touching distance and they have never been hit. Ever. By all means spread the target over your parliamentary tenure if it makes you feel better, but in year 5 you will face a mammoth task. Try something new, if you want to create an abundance of new properties, look at the abandoned ones we have or remove the red tape to convert commercial to residential. The rise in WFH has left empty offices up and down the country.
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Dariusz Karpowicz
Director at Albion Financial Advice
Setting an ambitious 1.5m homes target without annual delivery metrics raises serious concerns about achievability. Historical precedent shows a consistent pattern: incoming governments make grand housing promises that consistently fail to materialise into bricks and mortar. The fundamental challenges remain unaddressed: the UK construction sector faces a critical skilled labour shortage, while the planning system continues to be a labyrinth of delays and complications. Without clear annual benchmarks, tracking progress and maintaining accountability becomes virtually impossible. The construction industry needs clear direction and measurable milestones, not vague aspirations, to deliver meaningful change in Britain's housing crisis.​​​​​​​​​​​​​​​​
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Zaid Patel
Director at Highcastle Estates
Without clear targets, building 1.5m homes is a dream. Where are they going to build? How are they going to build? It's just another example of politicians having zero clue about what the country needs. Why don't they analyse the failings of the past four governments that have failed to hit their housing targets? It's not about building homes. It's about creating homes. A common challenge is the planning system. Reform it! One simple change is allowing property investors to convert 5-bed houses into two flats in densely populated boroughs, which many want to do due to HMO challenges. Not only will they create homes, but they'll stop the massive problem of tenants subletting that they have. And this way, they won't need to 'build' 1.5m homes. But the politicians don't want to speak to people on the ground to find the real core issues; instead, they issue random statements, which they'll make an excuse for before the next election. It's an incompetent, repetitive cycle.