A long awaiting white paper on housing is expected to be released this week following a series of delays. It was originally intended to be revealed last year but was put back following a need for more details on the proposals being put forward for reform.
The white paper is needed because of the continued imbalance between demand for homes in the UK and the supply. Currently supplies are lacking to a point where in many areas prices are being pushed up to the point where properties are no longer affordable. With population growth pushing up demands even more the situation needs to be resolved.
The Government has already set its target of building a million homes by 2020. The white paper will help them to achieve this by providing an array of reforms. As a result Councils will be able to embark on more ambitious projects.
The list of reforms is expected to include relaxing rules on the height of buildings, allowing them to be built as high as the tallest building currently on the block. By removing the need for special planning permission taller properties can be built, making more homes on available land.
Inner city areas could be a big focus of the reforms, particularly locations with strong transport links. More residential development would be fantastic in these areas and there are a number of ways to accomplish this. Moving car parking underground and building taller buildings could be just two options.
More sites are expected to be preserved for pre-fabricated homes. These are favoured because they are fasted to build and generally have a smaller price tag too, making them more affordable.
A clampdown on land banking is also anticipated. This is a negative practice that sees developers holding on to smaller plots so the prices rise rather than developing them. The reforms could see planning permission being withdrawn if developers are found to be doing this.
The white paper is one of the biggest topics in the property industry at the moment and could have a huge impact on it. As a leading provider of estate management in Sutton and a company who works across every other London Borough we are eagerly anticipating the release.