New reforms to allow more high-rise homes in the UK
Delays to building new high-rise homes will be unblocked through a new package of reforms to the Building Safety Regulator (BSR), the Ministry of Housing, Communities and Local Government has announced.
These reforms, which include a new Fast Track Process, changes to leadership and fresh investment, aim to support the delivery of 1.5 million safe, high-quality homes and take early steps toward establishing a single construction regulator – a key recommendation from the Grenfell Tower Inquiry.
Alex Norris (Minister for Building Safety) said the establishment of the Building Safety Regulator has been fundamental to centralising safety in the construction process.
He added that it’s now time to take the next steps to build on that precedent and create a system that works for the sector whilst keeping residents and their safety at the heart of the process.
“That’s why we’re announcing a package of reforms to the BSR today to enhance operations, reduce delays, and unlock the homes this country desperately needs – delivering on our Plan for Change.”
This new organisational structure reflects the government’s commitment to prioritising building safety in its drive to build 1.5 million new homes, and builds on the strong foundation created by the HSE in establishing the BSR, which has played a pivotal role in placing raising safety standards across the sector. ”
To support industry in achieving the government’s ambitious housebuilding targets, the BSR is also introducing a new Fast Track Process, which will bring building inspector and engineer capacity directly into the BSR to enhance the processing and review of existing newbuild cases and remediation decisions, Norris said.
This will respond to concerns in the sector around delays whilst crucially keeping building and residents’ safety at the core of the process, he said.
“Alongside these improvements, long-term investment in the capacity of the BSR is being bolstered with the addition of over 100 new members of staff to support with enhancing operations, reducing delays and supporting progress towards building 1.5 million safe, high-quality homes as part of our Plan for Change.”
UK property back to 2015 levels
The reforms will be welcomed by a property sector which is looking increasingly stagnant.
Monthly property transactions published by HMRC this week show a slight rebound after April’s sharp slump in transactions following the stamp duty threshold changes.
May has seen a notable bounce back. Seasonally adjusted residential transactions rose by 25% month-on-month, showing the market is starting to rebalance after March’s deadline-driven activity and April’s subsequent lull.
While this might suggest a return to normality, the bigger picture remains more subdued, says Rosie Hooper (Chartered Financial Planner at Quilter Cheviot).
“Transaction volumes are still 12% lower than May last year, and when we look further back, the longer-term trend is clear. This May’s seasonally adjusted figure of 81,470 is among the lowest for the month since 2015, well below the 100,000-plus levels recorded between 2017 and 2022,” she said.
