The hottest topic in the news at the moment is the new Labour Government and the changes we can expect. A major thing here is planning reform and building more housing. The expectation is there will be a wave of moves to help unlock the country and get more projects underway. We want to take a closer look at this here. Then, if you need help with guaranteed rent in Barnet, you can rely on us.
First signs
The Labour Party had a number of key pledges about building and development in their manifesto. After a landslide win at the General Election, they now have the mandate to follow through with the plans.
We’re already seeing the first signs of the new Government working to meet the pledges. New Chancellor Rachel Reeves said yesterday that mandatory housing targets will return. She also confirmed Labour would be doing all they can to achieve their goal to build 1.5 million new homes in their term. Plus, they will reform the planning system and explore critical infrastructure intentions in the coming months.
Why is it necessary?
The problem with planning is easy to see if you look at the figures. According to data from the Department for Levelling Up, Housing, and Communities, now renamed by Labour as the Ministry of Housing, Communities and Local Government (MHCLG), planning applications in the year to March were at the lowest level in a decade. There were just 330,000 in England. This was a 12% dip in just a year.
The story is not only bad for projects being proposed. The same data says that 285,000 of the applications (86%), got approval. That is also a low mark for the decade. The number of major housing developments in particular has had a steady decline over the last ten years.
As we said above, we can offer help with guaranteed rent in Barnet. We understand the area and the fantastic assets that are here. However, new developments in the borough have been slowing down too. The figures show there were just 2,827 planning applications in the year, down slightly from 2,874. However, the approval rate was lower than the average for England at 80% (2,263).
What could change?
Labour is looking at some really crucial changes to the planning framework. Most importantly, they want to get rid of restrictive rules that can put a stop to developments.
One thing they have already said is they will continue to focus on Brownfield development so they protect green space. However, they will also look at identifying “grey belt” land. This is space that is technically Greenbelt, but is lower quality. As a result, it could be acceptable to build on it.
In addition, Labour will work to empower local planning authorities. They will get extra support, including more planning officers, to ensure the local governments can deliver more housing for their residents.
Do you want help with guaranteed rent in Barnet?
More developments would be fantastic news for various parts of the country, especially areas like London where there are massive housing shortages. They would be great for investors too.
If you decide to invest in the future, or already have a portfolio of assets, you should consider our services. We can offer guaranteed rent in Barnet and much more. We’ll make everything easier for you and also give you financial stability.
Contact us today to learn more about what we can do and why it is so beneficial; we’re always happy to help.
