Will new Investment Zones deliver Tory’s promised housebuilding boom?

The zones are already planned in 38 areas with other places invited to add to the list as new housing minister launches prospectus.

house building

The government has invited local councils to join a national drive to develop areas of accelerated planning.

Investment Zones are being set up in 38 areas already, and other parts of the UK can now join. They were announced by Chancellor Kwasi Kwarteng in the recent Mini-Budget.

The Department for Levelling Up, Housing and Communities has now published a prospectus for the initiative , and asked interested local authorities to come forward.

Lee Rowley MP
Lee Rowley MP

Housing minister Lee Rowley told a fringe meeting at the Conservative party conference that the zones were designed to “unblock problems” and speed up the planning process.

“The whole point is to go as quickly as possible, and to look at how we make processes quicker. We want to pull all the levers we possibly can to achieve high-quality output,” he added.

Unlock housing

Government guidance says: “Investment Zones aim to drive growth and unlock housing, with sites benefiting from tax incentives, planning liberalisation, and wider support for the local economy.” There will be time-limited tax benefits for local businesses in zone areas.

“Are we going to see councils coming forward? I’m not so sure.”

Rob Boughton, CEO, Thakeham Group

However, Rob Boughton, CEO of developer Thakeham, said at the same meeting: “Are we going to see Investment Zones where we most need them?

“Where we have the greatest housing need and the most unaffordability, are we going to see councils coming forward? I’m not so sure.” he said.

More information available on Investment Zones with a list of the 38 areas already accepted available here

Watch the fringe meeting here


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