News this week that the new "ministry of housing" is starting the Government's anticipated enquiry into "landbanking". The property industry will hope that the committee will adopt a practical approach to identifying and addressing delays in housing supply, rather than simply pouring the blame on the housebuilders.
The causes of delays are often multifaceted and differ depending upon the scale of development, local market conditions and the approach of relevant stakeholders. Whilst the housebuilding industry is not holding its breath for a breakthrough from this latest initiative it will hopefully lead to Parliament and Government becoming more focussed and better informed in its approach to tackling the problems.
Probe starts into land-banking house builders claim The new Ministry of Housing has appointed a line-up of experts to investigate why house builders are failing to build out sites with planning. Sir Oliver Letwin is chairing the review that among other issues will look into claims that the industry is land banking. The Government announced the review in the Autumn Budget to seek to explain the gap between the number of planning permissions being granted against those built in areas of high demand. According to Government figures just over half the 684,000 homes with planning permission as of July 2016 had been completed.