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Ed Miliband promises drive to double rate of housebuilding

Labour leader attacks 'stick-in-the-mud councils' and accuses property developers of hoarding land to push up its value. Profiteering property developers that hoard land and councils that block developments will be swept aside in a "non-stop drive" to more than double the number of homes being built each year in England.

Miliband will point out that the profits of the four biggest housing developers have soared by 557% this year. He will accuse them of hoarding land to push up its value, with homes being built at the slowest rate witnessed in peacetime for almost a century. Miliband is taking the political risk that the country is in the mood to give priority to housebuilding, both private and public, over the interests of those who lobby to halt expansion in their area. we will tackle those councils that block homes, those developers that hoard land and this government that fails to act on the worst housing shortages for a generation. We will stand up for homebuilders and first-time buyers. Link

Miliband's plan to increase housebuilding: the five big ideas

1. "Use it or lose it" powers to tackle land hoarding

At present, there are 523,700 homes with planning permission that have not been completed. One reason for this is the practice of land banking, with investment funds, historic landowners and developers sitting on vacant land and waiting for its value to go up. Miliband will today highlight figures showing that the profits of the four biggest developers - Barratt, Berkeley, Persimmon and Taylor Wimpey - have risen by 557% since the coalition took office. The number of houses completed by these firms increased by just 4,067 in 2012 and the number of affordable homes built last year fell by 26%.

2. A new "right to grow" for councils

Miliband will aim to tackle what he calls "home blocker" councils by introducing a new "right to grow." Of course it is right that local communities have a say about where housing goes. So the next Labour government will unblock this planning process and unlock the potential to build tens of thousands of new homes where they are needed."

3. Providing Treasury guarantees for new towns and garden cities

Labour plans to help local authorities design and build new towns and garden cities by offering Treasury guarantees modelled on those currently used for Help to Buy and infrastructure projects. "The government is providing guarantees of up to £12bn for Help to Buy. He should now step up to the plate to back the supply of new houses in New Towns.

4. Reforming finance rules to allow more council housing to be built

Labour has promised to "simplify rules surrounding the Housing Revenue Account to give local authorities more flexibility in how existing public funding is spent". Labour councils in London are currently building twice as many houses as Conservative local authorities, three times as many as Liberal Democrt ones, but they're frustrated that they can't build more because of the Housing Revenue Account cap." The Chartered Institute of Housing estimates that raising the caps by £7bn could enable the construction of 60,000 homes over the next five years, creating 23,500 jobs and adding £5.6bn to the economy. Other options include allowing local authorities to share services and to pool their borrowing limits so councils who want to build more, but have reached their limits, are able to do so.

5. A self-build revolution

Influenced by the example of France, where more than half of new homes are constructed by their owners (and where 341,808 in total have been built in the last year), Miliband will call for a "self-build" revolution to reduce the dominance of the big four developers and to help expand supply. The Lyons Commission will look at giving councils the right to stipulate that a portion of development land is sold directly to people who want to build themselves.

But will it be enough?

England, is actually a failure to keep up with predicted housing need, which is itself likely to be an underestimate of housing demand. A young person living at home with their parents but who wants to leave might be seen as having a 'demand' or 'need' for housing, depending on how this is defined. They are not homeless, but they want to move out."

But by focusing relentlessly on expanding supply, while the Tories focus on inflating prices through Help to Buy, Miliband has at least got his priorities right. Link

UK housebuilders counter Ed Miliband's land-hoarding claim

The industry said plots are built on as soon as planning permission is secured, and argued that the 557% increase in profits among the nation's four biggest housebuilders this year comes from a very low base following the financial crisis. Pete Redfern, chief executive of Taylor Wimpey, said: "The industry is only just returning to the point where it is meeting its cost of capital following the most prolonged downturn in housing history. "The comparison used for profitability is against a point where many in the industry were loss making, so a percentage improvement is rather meaningless."

The biggest four developers by turnover – Barratt, Berkeley, Persimmon and Taylor Wimpey – have a collective land holding of almost 300,000 plots.

UK housebuilders counter Ed Miliband's land-hoarding claim. Plots are developed as soon as they have planning permission and 557% profit rise 'comes from very low base'. Britain's biggest four developers – Barratt, Berkeley, Persimmon and Taylor Wimpey – have a collective land holding of almost 300,000 plots. Photograph: Matt Cardy/Getty Images. The industry said plots are built on as soon as planning permission is secured, and argued that the 557% increase in profits among the nation's four biggest housebuilders this year comes from a very low base following the financial crisis. Pete Redfern, chief executive of Taylor Wimpey, said: "The industry is only just returning to the point where it is meeting its cost of capital following the most prolonged downturn in housing history. "The comparison used for profitability is against a point where many in the industry were loss making, so a percentage improvement is rather meaningless." Britain's chronic housing shortage is expected to push up prices by as much as 8% next year according to the property website Rightmove, unless a flood of new properties are built. The biggest four developers by turnover – Barratt, Berkeley, Persimmon and Taylor Wimpey – have a collective land holding of almost 300,000 plots. Miliband is accusing housebuilders of holding on to land to push up values, and claims some "stick-in-the-mud councils" are blocking development. Link

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Talk is cheap..

Already seen far too many empty promises from all parties........a small word said very quietly precedes a huge chunk of the promises......'if'.......if only. ;)

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Ed Miliband promises drive to double rate of housebuilding

Labour leader attacks 'stick-in-the-mud councils' and accuses property developers of hoarding land to push up its value. Profiteering property developers that hoard land and councils that block developments will be swept aside in a "non-stop drive" to more than double the number of homes being built each year in England.

Miliband will point out that the profits of the four biggest housing developers have soared by 557% this year. He will accuse them of hoarding land to push up its value, with homes being built at the slowest rate witnessed in peacetime for almost a century. Miliband is taking the political risk that the country is in the mood to give priority to housebuilding, both private and public, over the interests of those who lobby to halt expansion in their area. we will tackle those councils that block homes, those developers that hoard land and this government that fails to act on the worst housing shortages for a generation. We will stand up for homebuilders and first-time buyers. Link

Miliband's plan to increase housebuilding: the five big ideas

1. "Use it or lose it" powers to tackle land hoarding

At present, there are 523,700 homes with planning permission that have not been completed. One reason for this is the practice of land banking, with investment funds, historic landowners and developers sitting on vacant land and waiting for its value to go up. Miliband will today highlight figures showing that the profits of the four biggest developers - Barratt, Berkeley, Persimmon and Taylor Wimpey - have risen by 557% since the coalition took office. The number of houses completed by these firms increased by just 4,067 in 2012 and the number of affordable homes built last year fell by 26%.

2. A new "right to grow" for councils

Miliband will aim to tackle what he calls "home blocker" councils by introducing a new "right to grow." Of course it is right that local communities have a say about where housing goes. So the next Labour government will unblock this planning process and unlock the potential to build tens of thousands of new homes where they are needed."

3. Providing Treasury guarantees for new towns and garden cities

Labour plans to help local authorities design and build new towns and garden cities by offering Treasury guarantees modelled on those currently used for Help to Buy and infrastructure projects. "The government is providing guarantees of up to £12bn for Help to Buy. He should now step up to the plate to back the supply of new houses in New Towns.

4. Reforming finance rules to allow more council housing to be built

Labour has promised to "simplify rules surrounding the Housing Revenue Account to give local authorities more flexibility in how existing public funding is spent". Labour councils in London are currently building twice as many houses as Conservative local authorities, three times as many as Liberal Democrt ones, but they're frustrated that they can't build more because of the Housing Revenue Account cap." The Chartered Institute of Housing estimates that raising the caps by £7bn could enable the construction of 60,000 homes over the next five years, creating 23,500 jobs and adding £5.6bn to the economy. Other options include allowing local authorities to share services and to pool their borrowing limits so councils who want to build more, but have reached their limits, are able to do so.

5. A self-build revolution

Influenced by the example of France, where more than half of new homes are constructed by their owners (and where 341,808 in total have been built in the last year), Miliband will call for a "self-build" revolution to reduce the dominance of the big four developers and to help expand supply. The Lyons Commission will look at giving councils the right to stipulate that a portion of development land is sold directly to people who want to build themselves.

But will it be enough?

England, is actually a failure to keep up with predicted housing need, which is itself likely to be an underestimate of housing demand. A young person living at home with their parents but who wants to leave might be seen as having a 'demand' or 'need' for housing, depending on how this is defined. They are not homeless, but they want to move out."

But by focusing relentlessly on expanding supply, while the Tories focus on inflating prices through Help to Buy, Miliband has at least got his priorities right. Link

UK housebuilders counter Ed Miliband's land-hoarding claim

The industry said plots are built on as soon as planning permission is secured, and argued that the 557% increase in profits among the nation's four biggest housebuilders this year comes from a very low base following the financial crisis. Pete Redfern, chief executive of Taylor Wimpey, said: "The industry is only just returning to the point where it is meeting its cost of capital following the most prolonged downturn in housing history. "The comparison used for profitability is against a point where many in the industry were loss making, so a percentage improvement is rather meaningless."

The biggest four developers by turnover – Barratt, Berkeley, Persimmon and Taylor Wimpey – have a collective land holding of almost 300,000 plots.

UK housebuilders counter Ed Miliband's land-hoarding claim. Plots are developed as soon as they have planning permission and 557% profit rise 'comes from very low base'. Britain's biggest four developers – Barratt, Berkeley, Persimmon and Taylor Wimpey – have a collective land holding of almost 300,000 plots. Photograph: Matt Cardy/Getty Images. The industry said plots are built on as soon as planning permission is secured, and argued that the 557% increase in profits among the nation's four biggest housebuilders this year comes from a very low base following the financial crisis. Pete Redfern, chief executive of Taylor Wimpey, said: "The industry is only just returning to the point where it is meeting its cost of capital following the most prolonged downturn in housing history. "The comparison used for profitability is against a point where many in the industry were loss making, so a percentage improvement is rather meaningless." Britain's chronic housing shortage is expected to push up prices by as much as 8% next year according to the property website Rightmove, unless a flood of new properties are built. The biggest four developers by turnover – Barratt, Berkeley, Persimmon and Taylor Wimpey – have a collective land holding of almost 300,000 plots. Miliband is accusing housebuilders of holding on to land to push up values, and claims some "stick-in-the-mud councils" are blocking development. Link

Thought that must of been a typo when looking at builders profits..557%, clicked on the link to check and yes the guardian is reporting 557% increase in profits too, crazy!

also checking the comments in the guardian threw this little gem up.

tory ex housing minister is a NIMBY!

Grant schapps/michael green waged a campaign and tried to designate his aerodrome as a community asset to stop development of 700 homes.

The fraud/nimby/git tried blocking homes and jobs because he likes flying his little aeroplane from this site.

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Talk is cheap..

At least milliband is talking, all other parties and m.p's are denying a bubble in 1999-2007 and denying a bubble now, even denying supply side reform is needed and generally sticking their heads up their own arses.

Miliband is the first minister to make the right noises in a long time, he is a party leader and looks set to win the next G.E. We could do a lot worse than him.

And I have a suspicion that once he gets his feet under the table he may take things further.

This comment from the guardian highlighted red eds gameplan, surely the banks are next if his ploy is to highlight the cost of living crisis and how we are being sucked dry by crony capitalists.

Its very clear to most people (especially those trying to get decent housing) that

we need a large scale house building programme, private and social housing, particularly affordable housing for families and smaller households. This provides accommodation, stability for families, and opportunities for social mobility, and help to control the price. Its a good long term investment for builders borrowing at very low rates. Also gives much needed skilled employment and training opportunities.

Currently the market is not working to produce what we need, and is working to keep prices high and current owners of land and property happy. The government needs to act as the market is failing.

I suspect this debate will follow the energy prices path:

Miliband attacks an industry and market dominated by a powerful oligopoly acting against the interests of the public

Fierce reaction from the industry and their Tory and media friends alleging Stalinism, socialism red in tooth and claw, etc

Fact based journalism and public debate exposes dysfunctional market, misuse of tax subsidies, extent of short term profiteering and lack of sustainable investment

Rise in public support for government acting to reduce prices and profiteering

Rush by Tories to adopt similar policies

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No point building another million houses If you are going to let in another million immigrant family's. No point running the taps until you've put the plug in the hole.

Nobody wants to vote labour because they got the wrong miliband in charge.

They should have put the Glen miller band in charge that would have got everybody in the mood.

Edited by gf3

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At least milliband is talking, all other parties and m.p's are denying a bubble in 1999-2007 and denying a bubble now, even denying supply side reform is needed and generally sticking their heads up their own arses.

Miliband is the first minister to make the right noises in a long time, he is a party leader and looks set to win the next G.E. We could do a lot worse than him.

And I have a suspicion that once he gets his feet under the table he may take things further.

This comment from the guardian highlighted red eds gameplan, surely the banks are next if his ploy is to highlight the cost of living crisis and how we are being sucked dry by crony capitalists.

but was it crony capitalists causing the problems or ardent communists, or both.

corporatists and statists are both playing monopoly with peoples lives.

mr milliband should pride himself on his jewish heritage, and know that it comes at a very high price.

put quite simply, orthodox jew believe that if they do not keep their end of the bargain with the big man upstairs,he is the one that sends the hitlers of this world down to thrash them to within an inch of their lives and humble them a bit.(and funnily enough this cesspit we find ourselves in now is most certainly not the work of orthodox judaism.....more a mixture of talmudism and romanism(both playing islam as cannon fodder)...

..not that I have much love for islam either, the fun-da-mentalists are just as mentalist(without the fun) as the others....but they are being played for patsies bigtime.

talmudo-bolshevism was not part of the deal, neither was invading other peoples countries and trying to force an alien ideaology upon them

that is why there is precisely, at this very moment as we speak, hitler on steroids brewing.

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No point building another million houses If you are going to let in another million immigrant family's. No point running the taps until you've put the plug in the hole.

Nobody wants to vote labour because they got the wrong miliband in charge.

They should have put the Glen miller band in charge that would have got everybody in the mood.

So make the amount of housing stock relative to the population. Those immigrant families have as much right as you do to live in the country. What makes you so special? It it because you happened to be lucky enough be born here?

It's the same as the boomers saying they are entitled to cheap property [and other freebies] because they were born before you.

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So an election speech about housing. I must have missed the bits where he said there was massive unacceptable HPI in the decade up to 2007 and where he condemns HtB and FLS for continuing the bubble. I also missed the pledge to bring down housing prices to the long term average compared with earnings. As with all politicians he has drawn the line at 2007 and this the baseline for prices. He is no different than Osborne.

What did he concentrate on for 'hard-pressed' families, energy which costs £1,200 per year and he ignored the £12,000 typical SE / Greater London rent costs.

Pitching to the boomers who's kids have been priced out rather than the kids themselves.

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So make the amount of housing stock relative to the population. Those immigrant families have as much right as you do to live in the country. What makes you so special? It it because you happened to be lucky enough be born here?

It's the same as the boomers saying they are entitled to cheap property [and other freebies] because they were born before you.

I am happy to pay tax to build social housing for the people of Britain I am not happy to pay tax to house the world. We can't sort out the worlds problem it's time we concentrated on sorting out our own.

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Ed Miliband promises drive to double rate of housebuilding

Best he doesn't ride around in any open top motorcades...

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If that is the best Labour can come up with further proof that no matter who you vote for you're voting for no change.

Double nothing = nothing

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Pete Redfern, chief executive of Taylor Wimpey, said: "The industry is only just returning to the point where it is meeting its cost of capital following the most prolonged downturn in housing history. "

"In housing history" - that seems to be a bit of a credibility challenged statement.

It seems to be one of those if you're going to tell one then make it a big one.

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Politicians make a lot of promises in the run up to elections.

Talk is probably cheaper than the cost of the electoral machine.

Based on 1997-2010 Labour have no credibility on housing or management of the economy, based on 2010-2013 Conservatives/Lib Dems have learned nothing and offer more of the same. What we have is an homogeneous mass of arrogance, platitudes and empty rhetoric. They neither represent nor reflect what is right or needed. None can be trusted.

Until politicians say there was and is a bubble, it was because of easy credit and lax lending, and that not only are house prices too high but they are detrimental to the economy, we do not have the politicians we need. They are neither brave enough nor truly representative.

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Politicians make a lot of promises in the run up to elections.

Talk is probably cheaper than the cost of the electoral machine.

Based on 1997-2010 Labour have no credibility on housing or management of the economy, based on 2010-2013 Conservatives/Lib Dems have learned nothing and offer more of the same. What we have is an homogeneous mass of arrogance, platitudes and empty rhetoric. They neither represent nor reflect what is right or needed. None can be trusted.

Until politicians say there was and is a bubble, it was because of easy credit and lax lending, and that not only are house prices too high but they are detrimental to the economy, we do not have the politicians we need. They are neither brave enough nor truly representative.

They are all mostly the same breed, give them access to the trough and they will stay there lapping away for all they are worth. Might as well shuffle the deck a bit and vote UKIP folks, kick a few of the piggies out on their a*rse.

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