In June
2016, just over half of the voting public voted to leave the European Union. In
the years since, there has been uncertainty in so many industries, from airlines
to the financial sector. As a result, there's concern that the construction
sector will suffer. Should the industry be concerned, and what will happen next?
The Construction Industry Before
Brexit
Before
the 2016 vote, there was already a housing crisis happening in the UK. Housing
charity Shelter has been vocal about the shortfall in housing for British
residents. Right now, it estimates that 277,000 people are homeless on the
streets of the UK, many because of the fact they couldn't afford privately
rented homes. The price of renting in the UK is the reason many people can't
afford new homes too, as their rent takes up so much of their income. As such, they're
trapped in insecure housing with no way forward.
After
the Brexit
vote, there was an assumption by many that it had caused the housing
crisis. Yet Sahel
Majali of the Mid
Group has pointed
out that this crisis was in place long beforehand. He has also said that there's
a serious need for starter homes, especially in London.
How Is the Issue Being
Addressed?
Right
now, there are several programs in place aiming to bring more housing to people
in the UK. The government has pledged to have thousands of new homes built
every year, so there will be more choice for those needing to buy a home of
their own. With the influx of homes, the hope is that rent will become more
affordable too.
There
are also local authorities looking to improve the amount of homes in their areas.
In some cases, they hadn't built new homes for more than 30 years. This is a
promising start, one that should benefit everyone living in the UK.
Will Brexit Affect Construction?
As
things stand now, it's clear that Brexit shouldn't negatively impact
construction. The government has recognised that construction and housing is an
issue separate from Brexit and needs to be addressed. In fact, most of their
measures were brought in after 2016.
For now, there's no need to be concerned about the
construction industry in the UK after Brexit. There are plenty of programs
already underway, and the main issue of a lack of housing is being addressed by
the industry.
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