Builders who fail to complete construction projects may face a new punishment: losing ownership of the land
The British government is set to introduce new regulations targeting housebuilders who persistently leave development sites unfinished for extended periods. Under the new rules, developers will be required to provide delivery timelines before receiving planning permission and submit regular progress reports to local authorities.
For the first time, developers that secure planning permissions primarily for speculative land trading could face penalties worth thousands per unbuilt home, according to the government. The aim is to expedite the delivery of promised new homes.
Deputy Prime Minister and Housing Secretary, Angela Rayner, expressed that the government is taking decisive action to revamp the planning system and stimulate construction in the country after years of inactivity. Rayner emphasized the need for developers to contribute to the effort and meet their commitments.
Large housing sites can take over a decade to complete, but those with more affordable homes can be built twice as fast, the government asserted. On Sunday, the government will release a Planning Reform Working Paper outlining the proposed measures.
Shelter, a housing charity, has welcomed the government's tougher stance on private developers. Alicia Walker, assistant director of advocacy and activism at the charity, stated that it is essential to address the problem of developers delaying home construction to keep prices high and maximize profits.
Meanwhile, Kevin Hollinrake, the shadow housing secretary, supports measures to accelerate housebuilding but criticized the additional burdens placed on builders. Hollinrake further expressed concern that many of the homes built under these measures might end up being allocated to immigrants.
By George Lithgow, PA
(Optional) Enrichment Data:- The new measures introduced by the government are aimed at addressing the issue of developers leaving housing sites unfinished, and the penalties include fines and potential loss of control over land for developers who fail to build homes.- Developers must commit to specific build-out schedules and provide annual progress reports to local authorities. They are also required to justify delays, and if they cannot, they may face penalties.- The goal of these measures is to accelerate the delivery of new homes and discourage speculative land trading by developers.
- The new regulations in politics, aimed at developers, could lead to penalties worth thousands per unbuilt home in the form of fines or loss of control over land, as part of efforts to expedite the delivery of new homes and discourage speculative land trading.
- The general-news highlights the need for developers to stick to their commitments in light of the tougher stance on private developers by the government, with the aim of addressing the problem of developers delaying home construction to keep prices high and maximize profits.
