View more on these topics

Planning permissions up 31% says HBF

Planning permissions for new homes are up 31 per cent year-on-year according to the latest data from the Home Builders Federation.

In the third quarter of 2013 there were 44,251 permissions on 826 sites, which is up 19 per cent on the 37,053 granted the previous quarter and is the highest quarterly tally since 2007.

The planning figures are the latest positive indicators to emerge for the sector. Last week official Government statistics showed the number of private sector new homes started in England in the third quarter was up 29 per cent year-on-year to the highest level since the first quarter of 2008.

While the National House Building Council, the largest new home warranty provider, said registrations of new homes in the third quarter were up 19 per cent on last year.

The HBF says that while extremely positive in demonstrating an upward trend, the total figure is still well short of the 60,000 permissions required on average per quarter to meet the country’s level of housing need.

It says that it is also concerning that many residential planning permissions come with long lists of conditions that local authorities then take a long time to clear, which then delays house builders from starting work on new sites.

But HBF executive chairman Stewart Baseley says that the rise in permissions shows that the house building industry is looking to quickly increase output.

He says: “We have already seen evidence of a rise in new homes starts and these figures show the industry’s intent to increase and sustain that over the next few years. Developers are building out current sites more quickly and are now looking to invest in new sites and begin development sooner than previously planned.”

Recommended

MS-4Dec-LWW.jpg

Caption Winner

Click here for this week’s Caption Competition

Co-op admits likely brand damage

The Co-operative Bank has admitted the scandal involving former chairman Paul Flowers may have caused “brand and reputational damage” and says it is already losing current account customers as a result. Ahead of a voting deadline for investors on a proposed rescue deal for the bank today, Co-op Bank says it is too early to […]

‘BTL lending to hit £25bn in 2014’

Buy-to-let lending will reach £25bn by the end of 2014, a 25% increase on lending in 2013 according to forecasts by Mortgages for Business. The specialist mortgage broker says lending to buy-to-let investors is now 135 per cent higher than the dip in 2009 when it fell to £8.5bn but still remains way below the […]

Cooperative-Co-operative-Bank-Branch-700x450.jpg

Co-op bondholders back bank’s recapitalisation plans

Co-operative Bank’s bondholders have overwhelmingly approved plans for the £1.5bn recapitalisation of the bank. A statement released by the troubled lender on Friday said 99.9 per cent of bondholders had approved the plan, which will see £1bn injected into the bank by the end of the year. Voting took place last month but the proposals […]

Value for money in DC pensions

The Pension Policy Institute (PPI)’s recent report “Value for money in DC pensions” tries to identify factors by which people can assess whether their pension offers fair value for money (VFM). Fiona Tait provides an overview of the findings. Positive Outcomes It is extremely hard to assess VFM in a pension. Press activity naturally focuses […]

Newsletter

News and expert analysis straight to your inbox

Sign up