The squeezed middle: Mid-sized housebuilders are struggling to keep pace with the listed housing giants.

The article discusses the challenges faced by mid-sized housebuilders in the UK who are struggling to compete with larger, publicly listed companies. Factors such as slow planning processes and the need to maintain large overheads are constraints on mid-sized builders. To overcome these challenges, many builders are moving towards a partnerships-based model, collaborating with housing associations, local authorities, or build-to-rent investors. While partnerships offer benefits such as shared costs and reduced upfront capital, there are concerns about the long-term sustainability of this approach and the potential loss of land. Miller Homes, a housebuilder with private equity ownership, emphasizes the importance of liquidity and visibility in their order book and aims for growth while maintaining discipline. [Extracted from the article]