Sunday, Feb 18, 2007
Homebuilders hoarding land
Independent: Planners accuse homebuilders of hoarding land to keep prices high
Planning experts have hit back at claims that the planning system is slowing the rate of new homes being built, instead blaming homebuilders for holding on to land to inflate prices. Property firms are making record profits on the back of huge increases in their land banks by manipulating supply, one source said. "Homebuilders get planning permission but delay building houses to keep prices high,"
Posted by rich @ 10:13 AM (140 views) Add Comment
1 Comment
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1. Chilli said...
Time for a land tax I think. Unfortunately if these people decided to dump their land on the markets, it could mean an uncontrolled correction. I guess it has to happen some time.