Recent discussions around housing investment in Yorkshire have significant implications for the construction sector. With calls for the government to reclassify housing investment as infrastructure spending, we could see a substantial increase in funding allocated to construction projects as there is a push to hit the new home target. This shift is not just about numbers; it represents a strategic move to address the pressing housing shortages many regions across the UK face.
The government’s ambitious target of delivering 1.5 million new homes by 2029 is a clear signal that the construction industry will play a vital role in this initiative. The massive amount of extra homes every year will require an influx of new builds to provide much-needed housing and create numerous job opportunities within the construction sector. As demand for skilled labour increases, training programs and apprenticeships may become more prevalent, helping to cultivate a new generation of construction professionals. The CITB has identified a shortage of over 200,000 positions within the sector over the next 2 years.
Moreover, the focus on infrastructure spending could lead to advancements in construction methods and technologies. Companies may invest in innovative building materials and sustainable practices to meet the growing demand for eco-friendly homes and drive towards net zero targets in construction. Overall, these developments could transform the construction landscape, fostering growth and resilience in the industry while addressing the critical housing needs of the community.
With few new workers entering the construction industry at present and the demand for jobs in the industry rising, this will prove to be a challenge across the sector nationwide.
