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PreFab V.I. Housebuilder L&G wants 'reassessment' of green belt  

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 Housebuilder L&G wants 'reassessment' of green belt  

"Pimbyism " please in my back yard term heard 

http://www.bbc.co.uk/news/business-38828477

 

( L& G already spent £55 million, & plans to spend 1/2 a £billion on factorie to build sell to rent prefabs to rent out themselves)

http://www.constructionenquirer.com/2016/02/25/lg-launches-worlds-biggest-modular-housing-factory/

Quote

It recently announced the launch of a Build to Rent partnership with PGGM, through which it will invest £600m into building purpose built private rental housing across the UK, providing over 3000 homes

"L&Q is the largest landlord in Greater London.[3] L&Q owns or manages over 70,000 homes in London and other regions of England, with an annual turnover[when?] of £579 million"

https://en.wikipedia.org/wiki/London_and_Quadrant

Quote

"We have to reverse that going forward - as we go from Nimbyism, not in my back yard, to Pimbyism, please in my back yard," he said.

 

 

....Legal & General chief executive Nigel Wilson said that if 1% of green belt was released for building, it would be enough for up to one million new homes.

And the L&Q housing association said Britain faced a choice: build on "green field" or continue with a shortage.

The comments come ahead of a major government announcement on housing.

A controversial white paper on revitalising England's housing market, which has been delayed three times, could now be published next week.

It is expected to propose a relaxation of planning rules and that local authorities should be allowed to build more council houses for rent as well as purchase.

"The green belt has doubled in size in the last 20 years, it is 4 million acres now," Mr Wilson told the BBC.

 

.......The moves on releasing more land were backed by David Montague, the chief executive of L&Q housing association, which builds thousands of affordable homes for purchase and rent.

"If you look at what we're doing here in Barking Riverside [in east London], we're building 11,000 new homes on brown field land, and of course it makes sense to prioritise brown field land," Mr Montague said.

"But if you go just a few miles up the road to Chelmsford in Essex, we are working there on a green field site with a Tory council with the support of the local people to produce a 4,000 home new town.

"The key thing is that we need an adult conversation about where we're going to build these homes.

"The alternative is that we just deal with the consequences of not building enough homes and that means more people in temporary accommodation, more people living on the streets, more people not about to afford to buy a home of their own, it means rising waiting lists for rising housing benefit bills.

"We have a choice, we either find the land to build the homes we need, or we deal with the consequences of not doing that."

........

 

Edited by Saving For a Space Ship

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13 minutes ago, Saving For a Space Ship said:

 Housebuilder L&G wants 'reassessment' of green belt  

"Pimbyism " please in my back yard term heard 

http://www.bbc.co.uk/news/business-38828477

 

( L& G spent 1/2 a £billion on factory to build sell to rent prefabs to rent out themselves)

"L&Q is the largest landlord in Greater London.[3] L&Q owns or manages over 70,000 homes in London and other regions of England, with an annual turnover[when?] of £579 million"

https://en.wikipedia.org/wiki/London_and_Quadrant

 

And I bet these houses won't be built in David or Nigel's back year.  I would also think that they don't live on a l&q estate

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Nimbysim in decline as housing shortage bites

The construction of new homes is now a top five priority for voters, with increasing numbers of people willing to support housing projects in their local area. A report by the Centre for Policy Studies, a think tank, suggests attitudes to new builds have changed dramatically over the last ten years. Citing a British Social Attitudes survey, the authors said 21 per cent of respondents opposed new housing in their local area, down from 46 per cent in 2010. The same survey indicated that in 2014, 56 per cent of respondents would have supported the construction of new homes, up from 28 per cent in 2010. “The importance of housing to the electorate reflects the fact that there are simply not enough places for people to live in,” the report says. “With house prices continuing to rise far faster than wages, the need for new housing has never been greater.” City AM

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1 hour ago, rollover said:

Nimbysim in decline as housing shortage bites

The construction of new homes is now a top five priority for voters, with increasing numbers of people willing to support housing projects in their local area. A report by the Centre for Policy Studies, a think tank, suggests attitudes to new builds have changed dramatically over the last ten years. Citing a British Social Attitudes survey, the authors said 21 per cent of respondents opposed new housing in their local area, down from 46 per cent in 2010. The same survey indicated that in 2014, 56 per cent of respondents would have supported the construction of new homes, up from 28 per cent in 2010. “The importance of housing to the electorate reflects the fact that there are simply not enough places for people to live in,” the report says. “With house prices continuing to rise far faster than wages, the need for new housing has never been greater.” City AM

I have considerable doubts about whether there is a "crisis". See this: https://capx.co/there-is-no-uk-housing-crisis-and-there-never-was-one/

There may be a shortage in particular areas but not generally. Developers want to build on the green belt to obtain higher prices, not from altruistic motives as is suggested. I see this as yet another example of brainwashing and "fake news".

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I'll rent or buy whichever looks better value.

Fair play to them. But yes there isn't a housing crisis.

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I keep reading there is not enough houses being built , I certainly don't see that where I am .1000's of flats earmarked , new build developments by likes of Taylor anywhere there is space and smaller developments behind peoples houses or small plots of land going up..

 

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"  “With house prices continuing to rise far faster than wages, the need for new housing has never been greater.” City AM "

I missed this gem. For a financial newspaper to assume that higher prices reflect a physical shortage and not the availability of ultra, ultra cheap money is laughable. One thing we do have a crisis and a huge shortage in is sensible journalism.

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13 minutes ago, crouch said:

"  “With house prices continuing to rise far faster than wages, the need for new housing has never been greater.” City AM "

I missed this gem. For a financial newspaper to assume that higher prices reflect a physical shortage and not the availability of ultra, ultra cheap money is laughable. One thing we do have a crisis and a huge shortage in is sensible journalism.

It reflects both. Credit can only push up prices were there is a high degree of competition between buyers. A small amount of extra building wont make much difference and credit would continue to be the main price driver. A massive amount of new housing though is potentially a game changer. A lot of extra housing would also push down rents taking yields with it and putting further downwards pressure on prices.

Edited by goldbug9999

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It would also be interesting to know how many directors of builders and property developers have an interest in the ownership of green belt land.

Change to residential use being a Win Win Win Win situation for them.

Edited by billybong

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^

Quote

 

"The key thing is that we need an adult conversation about where we're going to build these homes.

"The alternative is that we just deal with the consequences of not building enough homes and that means more people in temporary accommodation, more people living on the streets, more people not about to afford to buy a home of their own, it means rising waiting lists for rising housing benefit bills.

"We have a choice, we either find the land to build the homes we need, or we deal with the consequences of not doing that."

 

They could look it from the other end and suggest dealing with the population increase but you'll never hear a builder or any of their VI cronies talk about such matters.

If the subject ever does get raised they call on their chums in Parliament to claim that the 600,000 a year new people from overseas are needed for NHS jobs.

Edited by billybong

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Here we go again..."there is no shortage", "the issue is cheap credit" etc...ARRRRGGGHHHH......You need both for a price bubble.  You need conditions of scarcity to create competitive bidding otherwise there is no mechanism for inflation.  I am all in favour of L&G's plan to boost supply...

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1 hour ago, billybong said:

It would also be interesting to know how many directors of builders and property developers have an interest in the ownership of green belt land.

Change to residential use being a Win Win Win Win situation for them.

Exactly, my quick google search has been fruitless. Does anyone else know how you find out who owns green belt land ? perhaps the nimby orgs would know 

 

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Wouldnt it be Farmers who own the land? Seems a decent idea to me to sort out this crisis. At least its an idea. Its population growth that needs controlling to sort out this problem. I know 5 couples 4have 3 children and the other has 5. So we started off with 10 people now we have 10 plus 17 children .

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This Nigel Wilson fella always comes up with these pie in the sky missives when his dubious business strategy hits another roadblock.

He has turned a highly responsible insurer into a basket case.

Notably he has destroyed the bedrock of L&G by closing the Kingswood office on the basis of costs and rent.  Then in the midst of the closure he buys the site from a secretive offshore firm and claims he only had a couple of weeks to plan that, yet doesn't deviate from that strategy,

Essentially he has paid off tens of thousands of man years experience at running his business for him to acquire a site where he will struggle to profit from a hundred or so homes in 50 acres due to the site being on green belt and an area of outstanding natural beauty.

He tends to disguise his ****** ups as part of a high minded social engineering strategy so be extremely cautious of his motives and that if the pr team at L&G.

Oh and his prefabs may not pass muster as of a high enough build quality to qualify as collateral for a mortgage.

 

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It isnt that anybody disagrees that more housebuilding is a good thing. However, it isnt a good idea to let your opponents dictate  the line  of argument. Vested interests are perfectly happy in the media to make sympathetic noises to those who cant afford a home, and agree" yes of course we do need more building",  as if ridiculous prices are just some demographic accident. What you never hear them say is that the only way for a first time buyer to buy a house for less money is for them to sell theirs for less money. Or prices are deliberately inflated in their favour with monetary policy and government props.

 

 

 

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8 hours ago, Wayward said:

Here we go again..."there is no shortage", "the issue is cheap credit" etc...ARRRRGGGHHHH......You need both for a price bubble.  You need conditions of scarcity to create competitive bidding otherwise there is no mechanism for inflation.  I am all in favour of L&G's plan to boost supply...

More supply would reduce rents which would hurt BTL yield so it's win vs win win when it comes to building more isn't it?

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11 hours ago, SE10 said:

More supply would reduce rents which would hurt BTL yield so it's win vs win win when it comes to building more isn't it?

Well yes I think increasing supply is a win win...those that worry about their view from their Morning Room across the green belt can go to h3ll.  They didn't raise any meaningful objection to eye watering levels of immigration...I expect they were thinking of the rents on their BTLs increasing as demand soared...well its all coming home to roost now.  Those migrants don't stay in HMOs and 10 to a room for ever.

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20 hours ago, Saving For a Space Ship said:

Exactly, my quick google search has been fruitless. Does anyone else know how you find out who owns green belt land ? perhaps the nimby orgs would know 

 

I emailed a big Nimby group  to find out who owns green belt land, saying I was doing reseach . no reply as yet 

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On 03/02/2017 at 10:28 AM, Saving For a Space Ship said:

I emailed a big Nimby group  to find out who owns green belt land, saying I was doing reseach . no reply as yet 

Update: I got a reply from Campaign to Protect Rural England (CPRE) http://www.cpre.org.uk

Quote

Thanks for your email about the ownership of green belt land. As I’m sure you’re aware, this information can be very difficult to come by. However, you might have also seen that the new housing white paper contains a commitment to make public Land Registry data – this blog post from Shared Assets (not affiliated to CPRE) might be useful: http://www.sharedassets.org.uk/uncategorized/housing-white-paper-announces-plans-complete-open-land-register/.

 

They also ahad a banner ad for this 

Nature Conservation and Recreational Opportunities in the Green Belt

http://www.cpre.org.uk/resources/housing-and-planning/green-belts/item/4452-nature-conservation-and-recreational-opportunities-in-the-green-belt?utm_source=email&utm_campaign=opps_in_green_belt&utm_medium=sig

 

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On 2/2/2017 at 9:10 AM, crouch said:

I have considerable doubts about whether there is a "crisis". See this: https://capx.co/there-is-no-uk-housing-crisis-and-there-never-was-one/

There may be a shortage in particular areas but not generally. Developers want to build on the green belt to obtain higher prices, not from altruistic motives as is suggested. I see this as yet another example of brainwashing and "fake news".

Agreed.  Fake and misleading news

Quote

 

“The importance of housing to the electorate reflects the fact that there are simply not enough places for people to live in,” 

 

New building is necessary to accommodate future growth in population (some would say excessive growth in population)  - not especially to solve a problem of housing current numbers.  And only in some local areas where there's a tendency to overcrowding due to population growth - not everywhere.

Whatever happened to all the brown field sites that were available to accommodate enough until at least 2020.

It's a builder making self serving generalisations without any detailed justification to support it.  Of course building more houses would help a little bit with house prices (levels of credit and government price props being the major problems) and where necessary green belt building should be considered and expanded.

Edited by billybong

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What they walking around smiling for it looks like a 60m2 house with 3 bedrooms and not enough room to swing  a cat.

Annoys me that all those parsites walking round make a living from insanely high house prices and a rigged land and banking system.

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