more new homes
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Housing Market
Osborne vows to build more new homes
George Osborne used his party conference speech in Manchester this week to reaffirm the Conservative policy toward housing. The Chancellor George Osborne during his speech to Conservative Party conference in Manchester described the Tories as “the builders” with a plan for a prosperous future for working people. The Chancellor announced plans to sweep away planning rules delaying house building on brownfield sites this autumn in a bid to boost the number of new build homes being delivered by developers across the UK. The Government has also pledged to spend an extra £5 building on housing schemes, as well as other projects, and has set up a new independent national board to review spending priorities across various sectors, including house building. Mr Osborne told the conference in Manchester, “Building doesn’t come easy and especially when it comes to new homes and infrastructure that the country needs. “We are going to get many more homes built for families to buy, we’re sweeping away planning rules on brownfield sites, this autumn we will direct our housing budget towards new homes for sale. “We will give housing association tenants the right to buy. We’ve had enough of people who own their own home lecturing…
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Housing Market
Remove barriers to boost house building levels, says Savills
Private house builders could start building significantly more new homes in England if barriers to growth were cut, according to Savills. A new report from the property firm makes various recommendations on ways that house building levels could be increased, with a view to reducing the ever growing supply-demand imbalance in the market. The recommendations include increasing planning consents in high demand areas; boosting the supply of land; continued support for residential property developers and a rise in the building rate of local authorities and other bodies. In spite of a rise in the volume of new housing starts in recent months, Savills reported that there still remains a major shortfall, owed in part to insufficient land available for residential development. The report by Savills said there was the potential to construct 205,000 new homes per year, up 64,500 compared to the existing rate, if the supply of development land and planning consents increased in areas of high demand. At present, more than half of new homes – 54 per cent – are being built by the 11 largest house builders, while a third of new properties are being built by medium sized house builders. But Savills said that a…
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