23 Nov The Complicated Road to Developing Housing in the UK
The United Kingdom’s housing market is in dire need of an update. The current planning system dates back to the 1940s and is no longer fit for purpose, leading to a number of issues for developers, homeowners, and would-be homeowners alike.
The first problem is one of delays. It can often take two years or more to obtain the necessary approvals to begin construction on a new development, during which time the cost of land and materials can increase, eating into any potential profits. This lengthy approval process also makes it difficult to secure funding from banks and other investors, as they are unwilling to commit to a project that may not get off the ground for some time
Another issue is that of NIMBYism, or “Not In My Backyard” syndrome. This refers to the tendency of people to oppose any new development in their local area, regardless of whether it would actually have a negative impact on their quality of life. This can lead to costly and time-consuming public consultations and appeals, which further delays the start of construction. In some cases, community opposition can be so strong that a project is scrapped entirely
The current system also fails to take into account the needs of different types of developers. For example, small-scale developers who build a few homes each year are subject to the same rules and regulations as large companies who build thousands of homes. This puts them at a distinct disadvantage, as they lack the economies of scale that would allow them to overcome these obstacles
Conclusion It’s clear that something needs to be done about the UK’s archaic planning system. The current system is simply not fit for purpose, leading to delays, increased costs, and widespread opposition from local communities. If we want to solve the housing crisis in this country, we need to modernize our approach to development and put an end to this cycle of gridlock and inaction.