Labour’s 1.5M homes by 2029: how are their home building plans holding up? Was this manifesto goal ever achievable? Scrutiny grows.

Not to beat around a brick wall but the UK is currently in the midst of a housing crisis. According to the National Housing Federation, right now, there are 8.5 million people in England who can’t access the housing they need. The scarcity of housing is driving prices to unaffordable rates which is leading people to a lower standing of living and a snowball effect of problems.

Part of Labour’s promises going into last year’s election was deputy Prime minister Angela Rayners hefty goal of construction 1.5 million homes by 2029, but are they laying good enough foundations to meet this target.

Well when we look at the numbers we can see exactly how many homes are being built under this latest government and how it compares to their home building goals.

From July to December last year 56,190 homes began construction in England.

But to hit Rayners target  31,250 homes would need to be built every month and according to the data from the office of national statistics they are barely beginning construction on that many homes every quarter. On average only 9,365 were completed each month.

And when we look back further it turns out the Tory government was building more. On average 13354 homes were staring construction every month since 2020.

Even the office for Budget Responsibility (OBR) don’t think the government can meet that figure.

But what are they doing to help meet this target?

Earlier this year chancellor Rachel Reeves announced plans to reform the planning system and slash red tape to speed things along and help get more homes built.

The Ministry of Housing is also considering exemptions to the Building Safety Levy (BSL), which was introduced after the Grenfell Tower tragedy in order to raise revenue to make buildings safer, and is planned to come into effect in the Autumn of 2026. 

This is coming alongside a relaxation of environmental protections too, including Biodiversity Net Gain (BNG) requirements which try to leave wildlife habitats in better condition before building around them.  (screw the birds I guess)

These reforms, according to the OBR, could result in the fastest rate of home building in years with at least 1 million homes being built in England. According to them it could lead to a £6.8 billion boost to the economy.

Time will tell if labour can deliver on any of their housing promises but it’s not looking great. Homes are being built but not quickly enough. It’s like watching a builder on tea break, the tools are on site but not much seems to be happening.

For more on heinous housing click here.