Published: 30th Oct 2018

A Government-commissioned review has dismissed the notion that developers are intentionally holding onto land to make money. The review, which was published yesterday, by former minister Sir Oliver Letwin found no evidence that major developers are ‘holding land as a purely speculative activity’. Instead the review concluded that developers rely on selling houses as their primary business model. The report also calls for a new set of planning rules to be produced for sites with more than 1,500 homes to speed up the building process. In particular, it recommends new planning rules which require homebuilders to offer a range of different types of properties on big sites, so they can be completed more quickly without ‘flooding’ the market with a large number of identical properties. It also states that councils to be given a more ‘muscular role’ in guiding major homebuilding projects – and the power to purchase undeveloped land … (To read the full article, subscribe below)