Accelerated housing development
Measures are designed to speed up the construction of new homes and are part of the UK Government's goal of building 1.5 million homes by the end of the decade. This acceleration could offer estate and letting agents a broader portfolio of properties to manage and sell, potentially increasing business opportunities.
Empowering Local Authorities
Councils and mayors in England and Wales will get enhanced powers to acquire land for affordable housing developments. By simplifying compulsory purchase orders and removing the consideration of a property's "hope value," authorities should be able to repurpose vacant and derelict sites for community benefit more effectively
To address resource constraints in planning, the Bill proposes accrediting private sector consultants to assist in planning processes. Property professionals may need to collaborate with these consultants to ensure that projects align with regulatory standards and client expectations.
Major infrastructure projects
The emphasis on expediting infrastructure projects, such as roads and energy facilities could lead to increased demand for commercial property services, including site acquisition, valuation, and development consultancy.
People living within up to 500 metres of new pylons will get electricity bill discounts of up to £2,500 over 10 years to ensure those hosting critical grid infrastructure benefit from supporting the drive for clean power.
Streamlining planning processes
To facilitate the swift approval of major infrastructure projects, including roads, railways, and energy facilities, the Bill aims to streamline planning procedures. This includes reviewing the statutory consultee system to reduce delays caused by prolonged consultations.
Propertymark welcomes the UK Government’s ongoing commitment to reform planning and infrastructure projects across the country and its ongoing focus on new housing to help ensure supply keeps pace with real world demand.
The legislation must deliver an infrastructure-first approach towards building new homes with improved transport links, adequate schools and medical centres as well as focusing on building housing for an ageing population and homes that are net zero.
The reforms must ensure a diverse mix of properties are delivered in the right areas at the right time and that local councils have the capacity and resources needed to deliver additional new homes. What’s key is that local knowledge is utilised effectively, and local democracy is fully considered and enhanced when it comes to planning decisions
