The Property Podcast
TPP594: Has the 18 Year Property Cycle failed us?
Aug 1, 2024
The podcast dives deep into the reliability of the 18-year property cycle, challenging its predictive power amidst changing housing policies. The hosts discuss the new mandatory building targets for councils and the difficulties builders face in meeting them. They explore how the cycle's historical patterns may not hold up in today’s market, influenced by recent disruptions like COVID-19. Additionally, a handy tool for tracking Amazon prices is introduced, perfect for savvy shoppers.
28:30
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Quick takeaways
- The introduction of mandatory housing targets in the UK aims to address a significant housing shortage but faces implementation challenges.
- Skepticism around the 18-year property cycle's relevance grows as recent market trends fail to show the expected boom and growth patterns.
Deep dives
The Mandatory House Building Targets
New mandatory house building targets have been introduced in the UK, requiring councils to construct a specific number of homes each year. The total target has been set at 370,000 new homes annually, a significant increase from the previous year's target of 230,000. This shift from optional to mandatory targets is designed to address the nation's housing shortage and ensure that areas are held accountable for meeting their construction goals. However, there are concerns about whether councils can realistically meet these ambitious targets, especially facing challenges from private builders, who have shown little appetite for new projects.
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