RIBA's future trends report released this week points to a dip in architects confidence towards the housing market over coming quarters.
Clearly this is not good news, especially given the fact residential has largely been propping up the built environment for sometime. With a score over 0 indicating growth, key figures from the report are architects confidence of the residential market slumping from +18 to +7. This figure is bolstered by +30 from the northern region and +21 in Wales, with the south east sitting at -3. Other markets included are public projects at -2 (albeit an increase of 2 points) and +5 from commercial. RIBA, in my opinion, is always a good barometer to the immediate future of our industry given architects early involvement in project work.
Along with the governments recent promise to release £40bn into the housing market to free up locked land and ease barriers to building, it was good to read the below on Theresa May's address to the National Federation Summit this week.
Long story short, she has vouched to inject £2bn into affordable housing via the housing associations, with ambitious providers able to now bid up to 2029. Is this enough though? Obviously the left have put their two penn'orth into the debate and I for one will be scouring the media to understand the fall out over the coming week or so.
Theresa May is vowing to provide housing associations with a £2bn cash injection as she looks to supply the long-term certainty needed to deliver tens of thousands of new affordable homes.