London housebuilders on Monday hit back at claims they are landbanking amid new planning proposals, and attacked the Prime Minister’s focus on bonuses in the wake of the furore over pay at Persimmon.
Private housebuilder Cala Homes has hit out at the Government's review into landbanking as it forecast record revenues and profits for the sixth consecutive year.
Housebuilders’ shares dropped as Philip Hammond announced plans for a review into land banking, which included the potential use of compulsory purchase orders.
Housebuilders’ land banks are ‘reasonable’ and it is ‘too simplistic’ to say they are not pulling their weight, says the author of a new report .
The Role of Land Pipelines in the UK Housebuilding Process, produced by ChamberlainWalker and commissioned by Barratt Developments, notes that many point to increasing numbers of planning permissions, which stands at more than numbers built.
The Government needs to intervene in the land market to take it off developers if they do not build on it quickly enough, a new report has urged.
Civitas, a think tank, said that this would end land speculation and enable homes to be sold at lower prices, therefore getting them built more quickly and in greater volumes.
House building industry sources sounded alarm at proposed Government plans to give developers a timetable to build homes, or risk losing their planning permission.
The long-delayed housing white paper, due to be released this week, will hit house builders which have been tasked with helping to meet the Government’s target of one million new homes by 2020.
The UK’s 10 biggest house builders are sitting on 14 years’ worth of land, on which almost one million homes could potentially be built, Shelter has claimed.
Research carried out by the housing charity found that the listed firms control 404,000 plots through their current land banks, and a further 558,000 plots in so-called “strategic land banks”.
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