In February, the Government presented its Housing White Paper, “Fixing our broken housing market”. It focuses on 4 main areas:
- Planning for the right homes in the right places;
- Building homes faster;
- Diversifying the market;
- Helping people now.
Assuming the white paper survives the election, we explore how these areas of focus could affect Ashtead.
In February, the Government presented its Housing White Paper, “Fixing our broken housing market”. It focuses on 4 main areas:
- Planning for the right homes in the right places;
- Building homes faster;
- Diversifying the market;
- Helping people now.
The paper addresses issues affecting those who wish to buy or rent their home and looks at how changes to our systems might make that an easier and more affordable process for everyone involved. In her foreword, the Rt Hon Theresa May says “We need to build many more houses, of the type people want to live in, in the places they want to live. To do so requires a comprehensive approach that tackles failure at every point in the system.”
As a county, Surrey has certainly faced its fair share of challenges. The white paper makes a number of proposals that could well benefit Surrey. These key proposals include:
- Making it easier for people to build their own homes;
- Encouraging more institutional investment in the rented sector;
- Encouraging councils and developers to build more swiftly;
What Is Being Done to Facilitate these changes?
The planning framework is under the spotlight, with the objective of speeding up the determination of planning applications. In return, developers will be expected to build homes swiftly where permission is granted, with a focus on design and quality. Local communities will be encouraged to get more involved in planning, recognising that more housing is needed at affordable prices.
Identifying land ownership can often be a challenge. Another proposals revolves around providing greater transparency of land ownership and options held on it. There is a primary objective to make more land available for development including releasing more small and medium-sized sites.
In total, the white paper contains 30 proposals across the 4 main areas of focus. It is a very detailed review of the issues affecting our housing market and the actions that are being proposed to address those.
What could this mean in our local property market?
- Homeowners with surplus land attached to their properties may find it easier to get planning permission to split land and obtain development permission.
- Developers should find that the process of securing planning permission for sites, where there is a demonstrable local need for housing, is simplified and speeded up.
- Families who prefer to rent should find improved terms and options available in the rental market.
- Improved options for the self-build market with greater access to land and finance.
This is a complex set of changes that will take some time to debate. It is currently in a consultation phase, with the government keen to hear from a wide range of interested parties across the public and private sectors. Full details of how to provide feedback are contained within the white paper.
Michael Everett & Co is a local estate agent providing a range of services to help private individuals and developers find and build the right houses across Surrey. Please contact one of the team if you would like to discuss your property requirements.