Property developers are sitting on more than 300,000 plots with planning permission for new homes, undermining the case for controversial government planning reforms.
Campaigners say that the “land banks” are enough for more than two years of house building, meaning there is no need to water down current planning laws.
This really is cretinism.
1) How long does it take to gain planning permission? A couple of years, yes? Thus the builders are being entirely rational in having a couple of year\’s landbank. You\’d expect any business to have a supply of its most important stock, a stock which would cover the time it will take it to gain more of said stock.
2) Prices dimwits. Planning permission is still worth over £100,000 per house in the South. If we want to reduce the price of housing then that\’s the price we\’ve got to reduce. We\’ll do this by issuing more planning permission.