Developers back council housebuilding targets

"Are You a CEO, Director, or Founder interested in a Feature Interview?"

All Interviews are 100% FREE of Charge

Shawbrook’s research shows that three-quarters (74%) of developers believe that government setting targets for local authorities is key to resolving planning issues.

As it stands, 39% of developers report that the average wait time for planning permission to be granted is between four and six months, with a similar number (33%) revealing that the wait is even longer, at between seven and 12 months.

Terry Woodley, Shawbrook’s managing director of development finance, said: “The industry has been tough recently, with delays in planning permission slowing construction production and lengthening timelines.”

“However, the Chancellor’s recent speech to the Treasury is likely to bring optimism, with further support announced in the form of clear housebuilding targets, a review of green belt boundaries and more planning officers.”

“Our research has made clear how harmful planning challenges are for developers so it is positive to see the new Government tackling these challenges so early in their tenure as Prime Minister.”
There is a shortage of housing being built and rising construction costs.

Woodley added: “In addition, developers will be watching closely to see how the overhaul of the planning system plays out, with the Treasurer announcing that planning power for major infrastructure projects will be transferred from local authorities to the national government. In theory, this should mean projects are no longer held up and delayed by bureaucracy – a common pitfall for developers.”

“Anyone looking to move their project forward should consider speaking to a broker, particularly one with a specialist area, who will be able to resolve more complex cases and offer unique products. For example, Shawbrook offers a planning assistance loan which helps developers enhance plans for a site that have already been agreed. Developers can seamlessly move from this loan into a development finance loan to build their project, making it a useful product for those looking for additional support.”