London is one of the hardest locations in the UK to get planning permission for new projects. This is a big contributor to the housing crisis. Several issues can delay or cancel plans, including public opposition. In fact, locals in many areas have quite a reputation as being NIMBYs (not in my back yard). But what is the actual truth? We want to have a closer look here, then if you need help, you can speak to us about guaranteed rent in London.
Preferences
The most important thing to keep in mind is Londoners don’t hate new developments and fight against all of them. In fact, they can show strong support for the right kinds of projects in the right areas.
According to studies by Create Streets, the problem is many projects don’t match Londoner’s preferences. Their surveys found that “70-80%” of people prefer “human-scale” developments. The easy way to look at this is the preference in most cases is for smaller scale designs rather than big, tall buildings.
Another main finding of the studies is the majority of people favour traditional designs, especially when they preserve the character of areas. There is far less love for statement architecture. In fact, those buildings can feel very impersonal and out of place.
Change
In order to meet housing targets and provide homes that people will love, experts are calling for changes. This could have a significant impact on the number of projects that move forward. As a result, it’s important for investors to keep an eye on the proposals and any changes that do happen. Then, if you have assets, know you can rely on us for services like guaranteed rent in London.
The aim is to do more to deliver the kind of developments people want to see. More engagement could go a long way to helping more projects get off the ground. Updating design codes and standards could help too.
There are also warnings here though. A crucial thing is to consider what young Londoners want. They will be the people who have to navigate the housing market in the city in the future. It’s essential to think about the type of homes they will want to live in.
Additionally, it is wise to promote more flexibility. One of the big issues, and reasons for the NIMBY reputation, is people want neighbourhoods not to change. Sadly, that is almost impossible. Resisting change too much can mean stagnation and leaves areas without new developments.
Rely on us if you need guaranteed rent in London
Finefair Ltd provides one of the most flexible ranges of service in the city. It includes guaranteed rent, property management, HMOs, portfolio expansion, and more. We have a wealth of experience, so we can help clients choose the right assets in different areas to achieve their goals.
If you want some help, feel free to contact us. We can provide information about guaranteed rent in London as well as every other service we provide. Plus, working with us, you get fantastic flexibility so you can adapt your strategy when you need to.
