1 year ago

Keepmoat Annual Report 2020

  • Text
  • Lease
  • Keepmoat
  • Strategic
  • Annual
  • Income
  • Assets
  • Limited
  • Homes
  • Statements
  • October
Keepmoat has released its Group financial results for the year ending 31 October 2020.



STRATEGIC REPORT Government commitment to housing supply The policy landscape of the last 12 months has combined short-term responses to the pandemic with a post-election change of direction for planning and housebuilding. One of the most promising visions of the new government was to ‘level up’ and support those parts of the country that had been left behind. The Prime Minister’s ‘Build, Build, Build’ speech in June established the central role of housebuilding and construction in spearheading national economic recovery after the first COVID-19 lockdown. Since then, housebuilding has been supported through the Stamp Duty holiday on properties up to the value of £500,000 until 31 March 2021, more flexible construction site working hours, creation of the Construction Talent Retention Scheme and extended planning permission deadlines with planning committees also meeting remotely. The Help to Buy build and completion deadlines have been extended by two months to allow completion of delayed homes. Help to Buy is a popular and vital scheme that provides choice for homebuyers and stimulates construction of new homes. Keepmoat has supported a refocusing of the scheme on first time buyers from April 2021, with the majority of our homes being priced within the new Help to Buy price thresholds. We continue to work with both government agencies and mortgage providers on innovative mortgage products and other alternatives to the successful Help to Buy schemes. to afford houses, rather than apartments, with more space, more rooms and larger gardens. Supporting those ambitions is a key driver of Keepmoat’s business. We note the recent Government announcement that it is committed to funding and supporting the removal of unsafe cladding on high-rise buildings. Keepmoat Homes has conducted a desktop review and has not identified the need for any remedial works associated with the removal of combustible cladding in relation to multi occupancy residential structures in its legacy development portfolio. In support of industry initiatives to improve fire safety moving forwards Keepmoat Homes has become a registered signatory to The Building A Safer Charter Declaration of Commitment which is designed to drive the culture change and action required to improve building safety by making improvements to current practice and behaviours. Working from home gives homebuyers greater flexibility on where they live We welcome elements of the Planning White Paper which includes positives for housebuilders. More speed and predictability in planning decisions will enable us to build many more homes while national standardisation, especially in space standards, will enable us to do so more efficiently. We also welcome a green agenda that prioritises brownfield land and requires energy efficiency, biodiversity and sustainable development. A national planning system, charged with a desire to level up all areas of the UK, is a powerful post-pandemic vision. If we are moving to an era of more homeworking, homebuyers will have greater flexibility on where they live and will be able to choose to buy in areas where their money goes further. In these areas they will be able ANNUAL REPORT & FINANCIAL STATEMENTS 2020 21