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Legal & General Wants To Create Five New Towns In Uk In Next 10 Years

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http://www.theguardian.com/business/2014/jan/19/legal-and-general-build-new-towns

Insurance group Legal & General wants to build five new towns across Britain over the next 10 years at a cost of up to £5bn, according to its chief executive.

The firm, which manages £440bn in assets globally, said building new towns and regenerating inner cities was the best way of addressing Britain's housing crisis, and would also meet L&G's aim of investing more of its pension fund in infrastructure.

"If we can bring communities with us and agree planning, we'd like to help build several new towns across the country. We're already developing towns within cities, in partnership with enlightened local authorities and boroughs," L&G's boss Nigel Wilson told the Sunday Times.

Wilson also said the government should scrap the Help to Buy mortgage deposit scheme in London to prevent house prices from spiralling out of control.

In a Sunday Telegraph interview, he said the scheme risked stoking a price bubble that would put homes out of the reach of all but the most affluent.

He argued house prices had reached absurd levels and said the scheme, which supports mortgages for houses up to £600,000, was pushing up demand at a time when the supply of affordable housing was the problem.

5 new towns, all to be located around London? Is there anywhere else you'd want to build?

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I think they should start with inner city areas of northern towns.

This strip of wasteland is situated near Nottingham city centre. And it makes no sense to me. Within yards of the railway station currently undergoing a multi million pound transformation, an extended tram system which is the biggest civil engineering project currently taking place in the UK and the council leave this????

http://wasteland-twinning.net/sites/nottingham-england/ (see picture links at the bottom)

My own solution would be to build Georgian style town houses of quality and attract entrepreneur's to the area. The council's solution will be to eventually build social housing and sink Nottingham into further welfare poverty.

Edited by crashmonitor

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Looks like the attitude towards planning is on the turn judging by the 100,000's of permission approved last year and with many of them on farm land.

It's quite lear to anyone who has working eyes that the current system of only being allowed to build in built up areas is destroying inner towns, gardens and green spaces.

I have noticed not just an uptick in developments being passed by planning depts, but also planning offices REDUCING THE DENSITY of such new development.

It will be interesting to see what is approved this year, I certainly think new towns and cities are they way forward - there is piles of room across the whole UK where new villages, towns and cities could be built if only the government and their masters allowed it.

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I think they should start with inner city areas of northern towns.

This strip of wasteland is situated near Nottingham city centre. And it makes no sense to me. Within yards of the railway station currently undergoing a multi million pound transformation, an extended tram system which is the biggest civil engineering project currently taking place in the UK and the council leave this????

http://wasteland-twinning.net/sites/nottingham-england/ (see picture links at the bottom)

My own solution would be to build Georgian style town houses of quality and attract entrepreneur's to the area. The council's solution will be to eventually build social housing and sink Nottingham into further welfare poverty.

yup. it'll be cheap flats instead. birmingham doing the same, extending into industrial land beyond the inner ring road. could build a nice neighbourhood like belgravia, but no, plans for high rise block after highrise. can you believe they built this barely 5 years ago? Its already gone all green and grey on the streetview too!

pict00205cd.jpg

http://www.skyscrapercity.com/showthread.php?t=352257

At least in 60s planners had the excuse of not knowing, or that the old victorian architecture was degraded and dirty. What have todays planners got to excuse them.

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My own solution would be to build Georgian style town houses of quality and attract entrepreneur's to the area. The council's solution will be to eventually build social housing and sink Nottingham into further welfare poverty.

Our council wants to build big aspirational houses to attract wealthy people to live in the area.

I'm not convinced it's the solution to anything though.

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Our council wants to build big aspirational houses to attract wealthy people to live in the area.

I'm not convinced it's the solution to anything though.

There is not a problem with housing affordability in Nottingham for those that want to work, the current average price for the city is under £100,000. The average for the area where there is desolate land near the city centre is probably £50,000 set between the notorious Sneinton and Meadows. Furthermore development has stalled because all the Council do is build tower blocks that are empty because no one wants to live in them.

Meanwhile tens of millions is being spent on Nottingham Railway station to make it one of the best in the country, it is a Victorian architectural gem, We are getting one of the best tram systems with the current extension.

You can build quality homes and lift the area or sink the area with more rubbish from the planners.

At the end of the day what proved to be London's advantage over the rest of the world was desirable Georgian property which people wanted to live in, and not the slums of Poplar built in the 60s and since refurbed or demolished.

Edited by crashmonitor

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5 new towns, all to be located around London? Is there anywhere else you'd want to build?

It is a start....all depends where the new jobs will be located, the new jobs with wages enough to pay for the new houses? ;)

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Our council wants to build big aspirational houses to attract wealthy people to live in the area.

I'm not convinced it's the solution to anything though.

There is a shortage of affordable aspirational houses in the UK - the price of materials for a 200sqm house is a maximum of £150k for a standard (inferior) UK finish. add on a reasonable cost of 0.25 acre plot should be around £200k for a 5 bed detached with garage parking and good sized garden.

There is an amazing amount of space in the UK for executive developments and if planned correctly with new roads, bus and tram links (think Dublin Luas) then the UK could replace much of it's antiquated deteriorating housing stock.

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There is a shortage of affordable aspirational houses in the UK - the price of materials for a 200sqm house is a maximum of £150k for a standard (inferior) UK finish. add on a reasonable cost of 0.25 acre plot should be around £200k for a 5 bed detached with garage parking and good sized garden.

There is an amazing amount of space in the UK for executive developments and if planned correctly with new roads, bus and tram links (think Dublin Luas) then the UK could replace much of it's antiquated deteriorating housing stock.

If you build more aspirational housing then it would help depress prices of houses that people actually wanted to live in, surely that would be what people want on this forum. Instead the planners continue to build rubbish in the North, there is no land shortage, and the blocks lie empty.

Edited by crashmonitor

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There is a shortage of affordable aspirational houses in the UK - the price of materials for a 200sqm house is a maximum of £150k for a standard (inferior) UK finish. add on a reasonable cost of 0.25 acre plot should be around £200k for a 5 bed detached with garage parking and good sized garden.

There is an amazing amount of space in the UK for executive developments and if planned correctly with new roads, bus and tram links (think Dublin Luas) then the UK could replace much of it's antiquated deteriorating housing stock.

....I would say in many places the income supporting the areas are the peoples pensions, because the jobs alone could not do it....other areas it is the benefits, because the jobs alone could not do it. ;)

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There is a shortage of affordable aspirational houses in the UK - the price of materials for a 200sqm house is a maximum of £150k for a standard (inferior) UK finish. add on a reasonable cost of 0.25 acre plot should be around £200k for a 5 bed detached with garage parking and good sized garden.

There is an amazing amount of space in the UK for executive developments and if planned correctly with new roads, bus and tram links (think Dublin Luas) then the UK could replace much of it's antiquated deteriorating housing stock.

http://www.rightmove.co.uk/property-for-sale/property-39612494.html

http://www.rightmove.co.uk/property-for-sale/property-34125631.html

http://www.rightmove.co.uk/property-for-sale/property-39878815.html

LIke that?

So you think half a million is the price they should be aiming for?

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In the US the market is flooded with aspiration, so that aspiration comes cheap. By limiting the supply of good houses and building flats all you do is increase the scarcity and price of where people really want to live. You also don't help the area by building cheap, because with aspiration comes aspirational workers.

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In the US the market is flooded with aspiration, so that aspiration comes cheap. By limiting the supply of good houses and building flats all you do is increase the scarcity and price of where people really want to live. You also don't help the area by building cheap, because with aspiration comes aspirational workers.

I agree....all good well balanced areas have a mixture of all types of people and all types of housing and jobs.....not ghetto type living be it rich or poor nor creeds or cultures. ;)

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