The Labour Party has said it would set up a raft of New Homes Corporations (NHC) in its bid to build 200,000 homes a year by 2020
Under the plans announced at the party’s annual conference in Manchester, all communities would have the powers to set up the corporations, which would work with private sector partners and housing associations to build out sites.
Labour leader, Ed Miliband, also claimed lessons would be learned from the 2012 Olympic Games and the ‘focused delivery’ of new homes on the east London site.
He said: ‘The numbers of new homes being built has fallen under this government to the lowest levels in peacetime since the 1920s with the shortage set to hit two million by 2020 – equivalent to five cities the size of Birmingham. That is putting the dream of home ownership out of reach for millions of young families and everyday working people.
He added: ‘Labour will tackle the shortage of homes by learning the lessons of the focused delivery of the 2012 Olympics, where a specific site was identified and then developed on time and on budget.’
The plans are the first to emerge from the Labour-commissioned Lyons Housing Review, which is due to publish its report later this year.
The party believes the NHCs would increase competition in the industry by seeking private partners for investment rather than relying on volume housebuilders.
According to the Lyons Commission these corporations could speed up the delivery of up to 500,000 homes.
Michael Lyons, chair of the Lyons’ Housing Commission, said: ‘We need to mobilise across the nation to build the homes our children need. More land released, a wider range of builders and a bigger role for local authorities working with their partners are all important.
‘Our report will offer a comprehensive view of how these measures and others can help us get to 200,000 homes a year and beyond.’
Labour pledges to build 200,000 homes per year