Rayner housing target looks doomed to fail – new figures
Summary
New figures show a sharp fall in planning approvals for private housing sites in England, with both site numbers and approved homes remaining well below levels implied by the Government’s housing ambitions. The article argues that rising build costs, weaker demand and reduced viability are constraining new supply, particularly on larger schemes.
Why it matters
Residential surveyors involved in valuation, development appraisal and housing market analysis need to understand the pressure points affecting new supply and scheme viability. The slowdown in consents may influence future stock levels, pricing dynamics and assumptions used in feasibility and valuation work.
Key points
- Private housing site approvals fell to a new low in Q1, with 1,220 sites granted permission across England.
- Approvals for 10+ unit sites also hit their lowest quarterly level since 2006.
- HBF says delivery costs have risen significantly since 2020, reducing viability.
- The article links weak mortgage lending and subdued demand to reduced developer appetite.
- Small-site approvals are rising, but remain too limited to materially affect overall supply.
This is an RPSA summary of a publicly available article. The full content remains with the original publisher.
