The UK doesn’t build enough homes. The consensus is that the country needs around 300,000 homes per year to keep up with population growth and start to tackle years of under-supply.
As a consequence of the limited supply, housing is not affordable – the UK average house price is almost 8 times average earnings. More houses have to be built.
But the construction industry faces deep-seated problems – low productivity, low predictability, lack of collaboration, an aging workforce and lack of skills – the industry needs to set a new course towards modernisation.
Another major challenge is sustainability. The construction industry is one of the largest consumers of materials and produces more waste than any other sector in the UK. It is responsible for around 40% of the UK’s total carbon footprint. With the legally binding target to achieve net zero greenhouse gas emissions by 2050, there is an urgent need to decarbonise the industry.
Clearly, business as usual is not possible anymore. We believe that an efficient and sustainable construction method is needed, but go even further: a new business model is needed.