Earlier this month the Prime Minister announced changes to the planning system to aid the construction industry and wider economy in the aftermath of the pandemic. In addition, a review of government-owned land will look at how it can be managed more effectively. These changes are designed to mobilise the construction industry and help meet the widespread need for more housing.
Whilst regeneration schemes and more homes are much needed, changing the parameters around Permitted Development Rights to give developers and builders more freedom, will undoubtedly become a contentious issue.
With the global economy showing indications such as the largest plunge in share prices since the 2008 financial crisis, and China’s economy threatening to contract for the first time in decades, how will the Coronavirus effect the property market?
Housebuilders thus far have been only been slightly affected, with small dips in their share prices.
The below leading housebuilders have been trading lower since mid-February, with their shares;
A 4% decline in planning applications between July and September 2019 has been seen compared to the same quarter in 2018, with District-level planning authorities receiving 106,500 applications.
Of these 106,500 applications, the statistics released by the Ministry of Housing, Communities and Local Government (MHCLG) show that 90,600 decisions were granted, which is around 88%, with 87% of the larger applications being decided within 13 weeks, or the agreed time
According to the release, paralleled to the same quarter in 2018, 2019 saw district councils grant:
A post war housing estate has been granted approval by Woking Borough Council’s planning.
The goal is to regenerate the 74-acre site in the Woking suburbs into a ‘sustainable, community-focused’ neighbourhood, with the present number of dwellings doubling from 570 to 1,142, half of which will be affordable.
695 homes have detailed consent, and 834 homes have planning permission.
Outline planning permission has been granted by Thurrock Council’s planning committee, for a £1 billion proposal.
Purfleet Centre Regeneration Ltd (PCRL), (a joint venture between Urban Catalyst & Swan Housing Association), submitted the plans for Purfleet on Thames.
Up to 2,850 homes are included in the plans, as well as; shops, restaurants, a medical centre, community facilities, a new town centre, upgrades to the rail station, improved riverside area, a new primary school, a 1,000,000 square feet media village with art, film and TV studios and new parks and leisure spaces.