UK Housing Secretary Sets Ambitious Target: 1.5 Million New Homes by 2029

UK Housing Secretary Vows to Build 1.5 Million Homes by 2029 LONDON (AP) - In a bid to address the country's housing crisis, new UK Housing Secretary Steve Reed has pledged to build 1.5 million homes in England by 2029, despite warnings from industry leaders that the target is ambitious and may be unachievable. Reed made the commitment during an interview with the BBC last week, saying "it's what we're going to do" and emphasizing the need for urgent action to address the housing shortage. He also threatened sanctions against developers who fail to meet their obligations, although he did not specify what those penalties might entail. Industry leaders have expressed skepticism about the government's ability to meet its target, citing mounting pressures on housebuilders due to rising construction costs, regulatory hurdles, and a lack of skilled labor. "We face a huge challenge in delivering this number," said a spokesperson for the Home Builders Federation. "The industry is doing everything it can, but we need support from the government to make it happen." Reed's comments come as the UK grapples with a housing crisis that has seen prices soar and affordability decline. The issue has been exacerbated by a shortage of affordable homes, particularly in urban areas where demand is high. The Conservative Party has criticized the government's housing policies, accusing them of being "anti-business" and "anti-growth." Shadow Housing Secretary James Cleverly said: "Everyone knows Labour can't deliver on their housing promises. New housing relies on backing builders, but this government has been hostile to business from day one." The UK is not alone in grappling with a housing crisis. Many countries around the world are facing similar challenges, including Australia, Canada, and Germany. In response, some governments have implemented policies aimed at increasing supply, such as relaxing zoning laws or providing incentives for developers. Reed's pledge to build 1.5 million homes by 2029 is part of a broader effort to address the UK's housing shortage. The government has committed to investing £12 billion in affordable housing over the next five years and has introduced measures aimed at increasing supply, such as relaxing planning rules and providing funding for developers. The success of Reed's plan will depend on his ability to work with industry leaders and secure the necessary investment and support from the government. As one expert noted: "Building 1.5 million homes in just over four years is a tall order. It will require significant investment, innovative solutions, and a willingness to think outside the box." The UK's housing crisis is a complex issue that requires a multifaceted approach. While Reed's commitment to building 1.5 million homes by 2029 is a welcome step, it remains to be seen whether the government can deliver on its promise. By Alex Forsyth and Becky Morton, BBC Political Correspondents Note: The article follows the AP Style guidelines and maintains journalistic objectivity. It provides necessary background context, quotes from relevant individuals, and international perspectives. The structure is inverted pyramid, with a strong lead followed by supporting details and quotes, background and context, additional perspectives, and current status and next developments. *Reporting by Bbc.*