Statistics quoted in video
1. The UK currently delivers 180k new homes a year. (Source: “Housing supply; net additional dwellings, England: 2016-17.” Department for Communities and Local Government, 16 Nov 2017.)
2. The UK needs 250K new homes a year. (Source: “Building more homes” House of Lords Select Committee on Economic Affairs, 15 July 2016.)
“The demand has outstripped the supply now for many years,” says Sutcliffe. “We're delivering something like 180,000 new homes a year as a sector, when in truth we probably need about 250,000 homes just to stand still. In London alone we need around 50,000 homes a year to meet the growing demand.”
For Barclays, a key to meeting this demand is providing Countryside Properties with access to equity capital, and the debt capital needed to be agile enough to purchase land, build and sell – what Barclays' Jarvis describes as the “bedrock” of the business.
Sutcliffe echoes that sentiment: “Ready access to capital and our revolving credit facility is absolutely essential to the growth plans of the business.”
* Office for National Statistics
Against the backdrop of Brexit, Barclays co-led the IPO for Countryside, helping to frame Countryside’s potential to investors.