黑洞社区

Redrow chairman Steve Morgan has described the possibility of a hung parliament after the next election as the 鈥榥ightmare鈥� scenario for housebuilders.

Speaking to 黑洞社区 following Redrow鈥檚 record half-year results yesterday, which saw pre-tax profit at the company rise 92% to 拢91m, Morgan said instability created by a hung parliament could cause housebuilding to fall to a standstill due to a power vacuum in parliament.

Morgan said: 鈥淎ll political parties have the same pro-housing agenda. They may have variations, but at least we鈥檙e not seeing political parties which don鈥檛 [want to do] anything. They all want housing in some form or another.

鈥淲hat would be more of a nightmare is if there鈥檚 a hung parliament and end up with indecision which could cost the industry.鈥�

With the polls currently too close to call between a Conservative or Labour government and the rise of minor parties including UKIP and the Green Party, the chairman of Redrow said stability is key for any future plans to solve the housing crisis.

鈥淲e鈥檙e hoping that there will be a positive result, and with that we mean a government which has got a mandate.鈥�

Morgan鈥檚 comments come as Redrow published record trading figures for the company鈥檚 half-year results. In the six months to end of December revenue at the firm soared to 拢560m, taking total revenue for the calendar year through the 拢1bn barrier.

Redrow also identified changes to Stamp Duty and the Help to Buy scheme among the reasons for the boost in figures, but according to Morgan planning issues remain the biggest obstacle to house building in England and Wales.

鈥淭he NPPF was a major seismic shift in the approach to planning, for me that was the tough decision to make changing the system in that way.

鈥淔or me the biggest things we have to do is sort out planning at the front end, the NPPF has done a great job to get a 5-year land supply sorted. However the red tape side of it was the kind of thing which the public doesn鈥檛 see too much.鈥�