IM Land’s strategic land director, Jonathan Dyke, was reassured by the Chancellor’s renewed commitment to house-building, although he isn’t convinced the government fully understands the current pressures on the sector.
“We all see the need for more homes, and on a major scale, and whilst the £2.3bn Housing Infrastructure Fund to help deliver 100,000 new homes in areas of high demand is welcomed, strategic planning and distribution of regional housing need has to be dealt with much more quickly if targets are to be met”.
“Applying for permission for major schemes isn’t for the faint hearted. Simply assembling a team with the correct skill-sets, across multiple disciplines, to research and prepare proposals is very costly and hugely time consuming and although well-funded developers will commit to the process, there is still too much risk and not enough certainty in the market to encourage new homes to be built on the scale required.
“Infrastructure spending in today’s Autumn Statement is welcomed, however we now look to the Housing White Paper to help increase delivery across all market sectors.”