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"PLANNERS CALL FOR "LAND BANKING" LEVY

http://www.planningportal.gov.uk/news/?1115315576650

Developers that are slow to build homes and shops on land for which they have already gained planning permission should be taxed to discourage them from manipulating the property market. That call has come from the Royal town Planning Institute, which believes such a levy is needed to discourage developers putting off building work.

The RTPI has warned that the credit crunch and subsequent cooling of the housing market could lead to developers delaying construction projects while they wait for market conditions which promise wider margins and bigger profits. The RTPI has already published data that house builders have banks of land with planning permission of close to 14,000 acres, sufficient for 225,000 new homes. However, the RTPI has pointed it that the number of homes being started by developers has fallen by 39 per cent, year-on-year.

Of course, this is not new thinking, but I can see the planning profession helping to drive the market down with over-supply, just as it helped inflate it by constricting / slowing the supply.

Things were ever thus.

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"PLANNERS CALL FOR "LAND BANKING" LEVY

http://www.planningportal.gov.uk/news/?1115315576650

Of course, this is not new thinking, but I can see the planning profession helping to drive the market down with over-supply, just as it helped inflate it by constricting / slowing the supply.

Things were ever thus.

7 years too effing late. They should have nipped this in the bud.

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225,000 more homes? A drop in the ocean really.

And surely all this will mean is that they buy land then wait before asking for planning permission, won't affect the supply issue at all, it'll just mean that they have to organise themselves a bit better and can't forward plan construction as much.

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  • 297 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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