The Infrastructure Podcast Retrofitting: the future of housing with Anna Moore
Today we head back to the vitally important issue of housing and attempt to understand the UK’s complex, and some might say, largely dysfunctional housing retrofit market.
It is a market that is rapidly evolving, driven by ambitious government policies, rising energy costs, and increasing public demand for sustainable, lower cost living. But with a housing stock that is among the oldest in Europe, the UK faces significant headwinds to meet this challenge.
But my guest today has embraced this challenge whole heartedly and two years ago quit a successful career with global consultancy McKinsey and Co to strike out on her own. Anna Moore formed Hestia, now rebranded as Domna, as a brand-new business to transform our approach to domestic retrofit and, at the same time, lever in large amounts of much needed private sector investment.
It's a tough market. Because, as Anna knows I am sure, while the government’s commitment to building 1.5 million new homes continues to grab the headlines as the key to driving up living standards and revitalising communities, the need to retrofit our huge existing stock has been left something of an overlooked, Cinderella sector.
Yes, recent initiatives, such as the Future Homes Standard and the Social Housing Decarbonisation Fund – now renamed the Warm Homes Grant, have boosted the focus on retrofitting to enhance energy efficiency, lower emissions, and reduce fuel poverty. And the market is seeing growing interest in innovations like heat pumps, solar panels, insulation upgrades, and smart energy systems.
However, the sector faces hurdles, including supply chain constraints, skilled labour shortages, and the challenge of balancing affordability with high-quality retrofits.
That said Anna has just secured a £70M cash injection into the business which she hopes will open up a £500bn opportunity that will help the business to play a critical role in creating healthier, more efficient homes for residents.
So, let’s find out how.
Resources
Insights from Donna Group on retrofitting
Domna post on £70 financing deal