JLL calls on next government to be realistic, build diverse and recruit

However, it added “that doesn’t mean we shouldn’t do it”, but “we need to ensure that all new initiatives complement existing activity and don’t replace it”.

The manifesto called on the next government to “build diverse”, developing new homes for owner-occupiers, affordable tenants, private renters and shared owners.

Support for investment was another priority. JLL said that “constant tinkering with legislation is counterproductive.” It criticised the government’s “short-sighted” decision to abolish multiple dwellings tax relief in the Spring Budget, which it described as “pivotal” to support the growth of the build-to-rent sector.

Incoming ministers were also told to “resource and recruit across the sector” to support development. The UK construction workforce has shrunk by 20% since 2007 to 1.3 million, and JLL warned that without intervention it could fall by 300,000 by 2030.

Finally, JLL called on the government to champion innovation and look for “better, modern and technologically driven” ways to address long-term problems across the housing ecosystem.

Marcus Dixon, head of UK living and residential research at JLL, said: “Ahead of a new parliamentary term, we need to ensure that the opportunity to implement real change isn’t missed.

“Despite recent challenges, there are reasons to be optimistic about the future of development. But to increase delivery, we need to invest and innovate. We’ll never get close if we just utilise current systems, structures and workforce to deliver.”

JLL also supports plans for a national home retrofit programme, which it said could attract “billions in private investment and pay dividends to the Treasury”, as well as provide skilled jobs.

The agency believes that “the UK has one of the most under-supplied housing markets in the world”. It forecasted that over the next five years, starts will fall a further 520,000 homes short of target.

Paul Winstanley, head of the residential strategic advisory at JLL, said: “Without question, we certainly need to build as many houses as we possibly can.

“However, if the next government were to prioritise achieving a balance of consistent and long-term sustainable housing policy with a legislative framework which will stand the test of time, then we can certainly see a real opportunity for the property sector to work collaboratively to put more shovels in the ground and build more much needed houses than we are able to deliver today.

“Leaving the new build housing system in a better state than they find if by the end of the next parliamentary term is as important as increasing the supply of homes in the short term. The housing crisis is a long-term problem, which needs a long-term solution.”

Other research by JLL this month put the total cost to build housing for every household on a social housing waiting list in England at £205bn.