Mr Hammonds points on how the government were going to tackle the housing crisis during the Autumn Statement were received, in the main, positively by the industry (OK, you can argue there was more than a slither of scepticism).
His promise of the £44bn investment into loans and guarantees was a breath of fresh air. His target was to build 300,000 houses per year by 2025. Importantly, in order to achieve this, he led with the government cutting red-tape for smaller, regionalised builders, whilst forcing landowners to develop on investments rather than land-locking them.
This is illustrated by the Housing Minister, Dominic Raab, recently announcing £45m of funding to stimulate 79 new housing projects and in doing so driving the development of 7,000 homes on council-owned land.
The below news is therefore far from great. The most salient figure from UK Construction Weekly article for me is the fact that it now takes 40 months on average to complete a project from the initial planning stage. This is an eight-month increase from figures released in 2014.
No doubt we will be watching these figures and how the government shape this ongoing quandary very closely over the coming year.
More than 423,000 homes have been given planning permission but are still waiting to be built, according to new research published by the Local Government Association.