Housing Market Intelligence Conference 2022

HMI, SAVOY PLACE ON 6th October

Housing Market Intelligence 2022 

Change and growth agenda highlighted at HMI conference

A range of speakers met at Housebuilder’s annual Housing Market Intelligence Conference in London yesterday (October 6), to discuss key strategic issues including the market, political uncertainty, the government’s growth agenda, housebuilding challenges and solutions to them.

Speaking in the morning, the Rt Hon Gavin Barwell spoke about the wider current economic and geo-political backdrop, the latter in the context of housing.

He said the prime minister wanted to accelerate the planning system but her already weakened political standing would make this a challenge. Liz Truss and chancellor Kwasi Kwarteng wished to “take on the nimbys”, but Barwell expressed doubt over whether they had “the political authority to deliver those reforms, given what they’ve been through over the past two weeks”.

Also speaking in the morning, Stewart Baseley, HBF’s executive chairman, reflected on housing market headwinds and housebuilding’s specific challenges.  

But also striking a positive note, he highlighted the opportunity housebuilders could take with the government’s growth agenda. “Housebuilding has always played a role in economic recovery. The government are going for broke on growth and we can contribute.” 

In the afternoon, Gráinne Gilmore, head of research at Cluttons and David Smith, The Sunday Times’ economics editor, gave economic and housing market overviews, reflecting a changed, difficult landscape. According to Smith, the housing market was heading for a possible “sharp slowdown” rather than a crash.

“Demand will be affected by lower confidence and higher mortgage rates. People don’t want to put houses on the market when they don’t think they will get a good price for it,” Smith stated. But this shift was set to create “low level equilibrium, so maybe we’ll see a sharp slowdown rather than a crash”.

As with Smith, Gilmore noted the “shock” the government’s mini-Budget had given the markets. But one of the measures, the stamp duty cut, was “very welcome”, reducing the cost for people wanting to move “quite significantly”. Gilmore also noted the “opportunity” of the government’s planned Investment Zones.

Addressing the environmental agenda – an ongoing challenge for housebuilders – Bukky Bird, Barratt’s group sustainability director, looked at progress on sustainability in a world and domestic context. She also outlined Barratt’s investment in green building which she said added value.

Also speaking at the conference was John Tonkiss, McCarthy Stone’s ceo, who urged the government to “get on with” launching its delayed older people’s task force.

Speakers also included Rob Brighouse, chair of the New Homes Quality Board, Steve Wood, NHBC’s ceo, Nigel Banks, ilke Homes’ research and development director and Sam Stafford, HBF’s planning director.

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