RICS launches commission to address UK housing crisis

RICS_logoThe Royal Institution of Chartered Surveyors has created a special commission to determine the best approaches in dealing with the UK housing crisis. The decision was made as a year after a new housing strategy had been announced by the UK government, house building was still stalling while Britons showed a stringent need of more houses to rent or buy. The main role of the commission will be to come up with a plan to deliver homes that best respond to current needs in the most sought for locations.

The commission made an appeal to all RICS members and to the property sector to submit their practical initiatives that would boost home building across the UK. The invitation to pitch suggestion extends to the property profession, the not for profit housing sector, investors, developers, stakeholders and public interest bodies.

By tapping into the knowledge from across various real estate sectors, RICS thinks it will approach housing delivery from a holistic perspective which will help better understand how each segment of the industry impacts the others. The commission will address issues such as affordable hosing, improving stock quality, regulation, land availability, and investment in the rental sector.

Michael Newey, RICS president elect, will be chairman of the commission which will publish its recommendations in June 2013.

‘Since the recession first began there has been a great deal of discussion as to what should and shouldn’t be done to get housing supply moving again. With the country well and truly in the grips of an economic downturn it is vital that the market is kept as buoyant and active as possible. This begins with boosting housing supply across the country in areas where it’s needed,’ said Newey. ‘We are looking for input and from our members and those in the wider property sector to contribute and offer their thoughts and advice on initiatives and proposals that can help boost housing supply across the UK. We’re also interested in hearing from those in the not for profit housing sector, investors, developers, stakeholders and public interest bodies.’

The report on the commission’s finding will also be sent to the UK Housing Minister and the Shadow Housing Minister in hopes it will fuel new policies that will address UK’s housing crisis in the short term, as well as manifesto commitments for the 2015 election.Oral evidence sessions will take place from Monday 04 March. Sessions are open to both RICS members and non-members.

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