A nine-point plan to get London building

cityam

Sep 15

London’s housing delivery has collapsed due to regulatory delays, high costs, and stalled developments, but fast-tracking planning reform and supporting SME housebuilders could unlock thousands of ...

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But also, the economic ones too. As not only are economically key workers increasingly being squeezed out of inner London, driven towards the suburbs and beyond, we are failing to offer the brightest and the best the one thing they have come to expect in all other areas of their lives – choice.Choose a career, choose a car, choose a phone, choose a restaurant or bar, choose anything you like. Choose a home?Breaking the impasseTo assist the new secretary of state we have","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BSR":"BEACON SELECTIVE RISK ETF"},"translate_title":"建设伦敦的九点计划","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BSR":1},"content_text":"London’s housing delivery has collapsed due to regulatory delays, high costs, and stalled developments, but fast-tracking planning reform and supporting SME housebuilders could unlock thousands of homes, revive derelict sites, and make housing more affordable, says Paul RickardLondon, once the UK’s housing and regeneration powerhouse, has seen the delivery of new homes plunge to near record lows. Burdened by lengthy delays at the Building Safety Regulator (BSR), a challenging sales environment, and it simply not being economically viable to even make a start on site, many of our housebuilders have downed tools and paused their delivery pipelines.The consequences are all around us: unfinished development sites; planning consents not being translated into construction activity; rents continuing to rise and more and more people, especially in the 25-45 age group, being priced out and forced to leave the capital.According to the latest data, nearly 30 per cent of London’s housing delivery comes from small sites (defined as 0.25 hectares or under). Yet according to recent data from consultancy, Molior, 70 per cent of the small and medium sized sites with planning permission are yet to see a start on site in London.\n\n\nNot only are economically key workers increasingly being squeezed out of inner London, driven towards the suburbs and beyond, we are failing to offer the brightest and the best the one thing they have come to expect in all other areas of their lives – choice.\nGiven that the new Secretary of State for Housing, Steve Reed MP, is a London MP and a former leader of Lambeth Council, I’m sure that the political consequences of these figures are not lost on him – especially ahead of all-out council elections next May in London. But also, the economic ones too. As not only are economically key workers increasingly being squeezed out of inner London, driven towards the suburbs and beyond, we are failing to offer the brightest and the best the one thing they have come to expect in all other areas of their lives – choice.Choose a career, choose a car, choose a phone, choose a restaurant or bar, choose anything you like. Choose a home? No. Take what’s left is now often the default for many.Yet it doesn’t have to be this way. There is a section of the housebuilding industry that is poised and ready to act. Ready to offer salvation for hard-pressed renters and would-be homeowners. These are the SME housebuilders with the potential to step up to unlock tens of thousands of new homes across thousands of small sites nationally.All that is required is for government to fast-track work to level the playing field for SMEs. Commit to meaningful further planning reform that reduces disadvantages. And recognise that without urgent intervention, SME capacity will shrink even further, exacerbating the delivery gap in London and beyond.\n\nBreaking the impasseTo assist the new secretary of state we have been working with a coalition of industry leaders to outline a nine-point plan which could break the current impasse and get London building again.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}