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The Committee for the Environment and Infrastructure has commissioned KPMG Channel Islands Limited to carry out the much-anticipated review of Guernsey’s local housing market.
Work on the review is already underway, with KPMG expected to deliver its findings to the Committee by March 2017.
“This is a hugely important piece of work,” said Deputy Barry Brehaut, President of the Committee for the Environment & Infrastructure. “As well as replacing the Housing Needs Survey, the review will provide the States with a wealth of data and analysis that will be useful in working out Guernsey’s various housing requirements. KPMG are ideally placed to deliver this piece of work given their local expertise and the support of their UK network of economists and housing specialists.”
Ashley Paxton, CI Head of Advisory for KPMG in the Channel Islands, said “We are delighted to be involved with this important project that will affect many aspects of our local community. We look forward to providing insight into the market that will aid policymakers in meeting demand for different tenures of housing and generating better outcomes for Guernsey.”
The review is also relevant to the work of the Committee for Employment & Social Security, who are responsible for the provision of social housing.
“We are particularly interested in what the review can tell us about the need for social rented and partial ownership housing over the next five years,” said Deputy Michelle Le Clerc, President of the Committee for Employment & Social Security. “We know there is a demand for such housing now, thanks to our waiting lists, but the review will help us plan the next phase of our social housing development programme.”
The review, which was triggered by an amendment placed by Deputy Soulsby during last year’s debate on the strategic housing target, is wide in scope. In particular, however, it will:
Look at current and future demand for housing, including social housing
Review the affordability of private sector rental costs and their relationship to the rest of the housing market
Report on factors influencing house prices
Identify barriers to ownership faced by first time buyers
Examine the options available for government intervention in the housing market and the potential effects that such interventions may have on the affordability and availability of housing
Deputy Soulsby said, ”I believe it is essential that this broad-based review takes place in order that there is clear evidence on which to base a new Housing policy that reflects the realities of today and future expectations.”
