Poole-based property developer Richard Carr is annoyed and disappointed to read that developers are being blamed for the country’s housing supply crisis.
Property Developers aren’t to blame for the housing crisis
Richard Carr has been in the industry for three decades and believes the problems start and end with the government and the restrictions that they place on developers, which slow down and prevent properties being built.
However, after analysing recent research independent think-tank Civitas has claimed that councils have granted enough planning consents to meet the government’s target of building one million new homes by 2020.
Civitas’ editorial director, Daniel Bentley, told planningportal.co.uk: “Local authority planning departments have been under enormous pressure in recent years and are frequently blamed by developers for holding up housebuilding.
New PM Theresa May is believed to be considering paying Community Infrastructure Levy (CIL) directly to local residents in a bid to gain support for new developments, writes property developer Richard Carr.
Is CIL damaging house building?
The news comes after she announced proposals for cash from a scheme to share the proceeds of shale gas revenues to be handed straight to households.
The move is a step away from the first announcement in last year’s Autumn Statement when it was understood that shale revenues would go to community trusts and local authorities.
But Number 10 said that the new government has “changed the consultation to ensure a greater focus on control for local communities – including insisting on proposals to transfer funds directly to households rather than local authorities”.
Richard Carr reviews a new development project, which will look to offer affordable office space in the UK’s most prosperous city.
High office space demand
Does London have affordable office space?
London is the UK’s economic heart with its lucrative finance and technology industries. Figures show that London is one of the largest city-economies in the world, with a gross domestic product (GDP) of £565bn, which is roughly 17% of total UK GDP. Many companies have a base in this prosperous city, making demand for London office space extremely high.
Strong demand has pushed average London office rents to new heights. Prices in premier London commercial locations can be particularly high. According to Business Zone, for instance, the West End has the highest office rental prices in the world, at an average of £100 per square. For many firms, especially smaller enterprises, office space in some parts of London is simply unaffordable.