Latest forecasts from Savills suggest the UK is on track to deliver just 840,000 new homes by 2029 — significantly short of the government’s 1.5 million target. A combination of lower demand from first-time buyers, reduced activity from housing associations, and a decline in planning approvals is contributing to the slowdown.

This shortfall comes at a time of high demand across all housing tenures. Pressure on the private rented sector continues to grow, with reforms such as the Renters’ Rights Bill expected to reshape the market. However, without sufficient new housing stock, both renters and buyers may face increased competition and rising costs.

Meeting housing demand requires not only regulatory reform but also a focus on increasing supply. Industry observers are calling for greater support for planning, investment, and delivery if long-term targets are to be met and housing pressure eased.