Build It Or Lose It, Developers Warned

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Developers who continue to hold onto land while waiting for its value to rise must ‘use it or lose it’ as part of fresh attempts to ease the shortage of housing.

Labour leader Ed Milliband has suggested that developers should be fined if they continually show no signs of developing land which has been granted planning permission. In addition, councils could be given ‘compulsory purchase’ powers to buy back land which has been given planning permission but which continues to lie empty or unused.

Mr Milliband is growing increasingly concerned that homes for many people continue to be unaffordable due to a lack of supply, while 400,000 – the equivalent to a city the size of Birmingham – have planning permission granted but are still to be built.

He is calling for land with planning permission to be developed first and sooner rather than later, as opposed to seeking new permissions for other greenfield sites.

Source: The Telegraph