Insurance News Archive
'Government property review good news for developers'
A government review of property planning regulations by has been hailed as "great news for developers" by an industry organisation.
Communities secretary Hazel Blears announced the housing greenpaper, which aims to reduce restrictions to the property planning process, earlier this week.
The United Trust Bank (UTB), which facilitates funding to property developers, has welcomed the move.
"Over the decades criticism has been levied at the government for the complex planning system which often hinders rather than facilitates regeneration," said Roger Tidyman, managing director of UTB.
The current system often sees developers, local authorities and communities become opponents instead of working together to create better neighbourhoods, he added.
Measures including the reintroduction of New Town powers, which will see local authorities and developers invited to submit plans for new eco-towns, are of great interest to property developers, the UTB said.
An £8 billion programme to increase the supply of affordable housing is also included in the greenpaper.
Last year, the government announced plans to build three million new homes by 2020.
28 Mar 2008
