Given the chasm between the Castle Point Annual Housing Need numbers, 400+, and the Local Plan2016 proposed Constrained Housing supply numbers 100+, it is interesting to note what appears to be the level of land banking by developers.
Planning permission has been awarded in England for 2,035,835 housing units between 2006 and 2015. That is an average of 204,000 new homes a year – an annual rate sufficient to meet the government’s housebuilding target for this parliament of 1 million homes by 2020.
- Starts recorded by the government during the same 10-year period numbered only 1,261,350, an average of just 126,000 a year. This means that there have been 774,485 more permissions than starts, equivalent to 77,000 a year for the period.
- This shortfall has been growing wider over the past five years. A significant increase in the number of planning permissions granted since 2011 has not been matched by a comparable increase in starts or completions.
The increase in permissions does not appear to be answering the apparent lack of housing in the UK, whilst the rate of population continues to increase. Developers will only act as market forces influence. The demand gets greater whilst the economy and personal finances acts as a development slow down.
Despite these personal finance and economic issues, our population increasing accentuates the problem.
The two cannot but be related, yet only development as an answer to the issue is seen as a means of resolving the problem.
By the way, it would be interesting to know whether the Castle Point application / development rates mirror or differ from the National averages.
Information supplied by A.Lainton blog post.