The UK planning system is driven by a most important requirement placed on each local planning authority. They need to demonstrate there is a five year supply of land in their area at any given time. The local plan specifies the build rate on which this is based. This in turn is partly a reflection of past experience of demand, and partly a planning judgement made by the Council subject to review by an Inspector.
This means that under planning law at any given time the government requires the private sector to “hoard” or sit on a lot of land with planning permission.
I’m sorry? The reason we’ve a 5 year land bank is because the law insists we have a 5 year land bank?
Well doesn’t that just blow the hoarding argument out of the water?