UK housebuilder plunges into administration after 7 years – ‘sector struggling’ | UK | News
A UK housebuilder has gone into administration after seven years in business. The company has been affected by a number of industry financial pressures, including rising construction, energy and labor costs.
Agile Property and Homes, known as Agile, is a low-carbon modular home builder and developer based in Bristol and Oxfordshire. They specialize in sustainable, flat-pack fabricated homes using natural and renewable materials. It was incorporated on 20 March 2019, but appointed Andrew Pear and Richard Keley of Moorfields Advisory as directors on 6 July. The news comes a year after the company’s chief executive, Craig White, told industry publication Inside Housing that it had “a proven model for solving the UK’s housing crisis at low cost and speed”.
As reported by TelegramMr. Pear noted that rising energy, labor and raw material costs were among the reasons for the collapse. The construction industry has also been facing pressure for years due to the ongoing war in Ukraine.
Mr Pear said: “The industry is struggling due to cost inflation. The prices of inputs into the business have increased significantly. This has also created affordability issues for the entire property market.”
The Labor Government aims to build 1.5 million homes by 2029 but is currently falling short of its target. Despite the need to build 300,000 homes per year, it is estimated that only 150,000 homes will be built from now until March 2028.
Mr Pear described the system as “broken” and said delays in planning permission had left plans behind. He also said there was a “major skills gap” in the UK and called for the next Prime Minister to address the situation.
Agile builds flat-pack panels before delivering them to construction sites, where they are constructed in approximately 12 to 14 weeks. The company also partners with community land trusts, charities and housing associations to build affordable homes.
