{"id":23041,"date":"2016-03-02T12:34:49","date_gmt":"2016-03-02T12:34:49","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=23041"},"modified":"2016-03-02T12:34:49","modified_gmt":"2016-03-02T12:34:49","slug":"developers-accused-restricting-new-home-builds-increase-profits","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/developers-accused-restricting-new-home-builds-increase-profits\/23041\/","title":{"rendered":"Developers accused of restricting new home builds to increase profits"},"content":{"rendered":"<h2><span>The chair of the Local Government Select Committee has accused developers of restricting the supply of new homes in an attempt to increase their profits\u2026<\/span><\/h2>\n<p><a href=\"http:\/\/www.parliament.uk\/biographies\/commons\/mr-clive-betts\/394\" target=\"_blank\"><span>Clive Betts<\/span><\/a>, Labour MP and chair of the <a href=\"http:\/\/www.parliament.uk\/business\/committees\/committees-a-z\/commons-select\/communities-and-local-government-committee\/\" target=\"_blank\"><span>Local Government Select Committee<\/span><\/a>, claims developers are failing to produce as many homes as they could to keep prices artificially high.<\/p>\n<p>He criticised firms for \u201cbuilding at a rate to maximise their profits rather than address the country\u2019s housing need\u201d.<\/p>\n<p>The accusation comes as figures reveal nearly half a million homes in England have planning permission in place but have not yet been built. Additionally, the length of time taken to complete a house has increased from 24 to 32 months.<\/p>\n<p>Since 2010, the rates of planning permissions for new homes has increased by 60 per cent. There was also a 48 per cent increase in the number of new homes built.<\/p>\n<p>Betts said the failure of housebuilders to speed up development was designed to maximise profits.<\/p>\n<p>\u201cI think it is clear that the big developers are building at a rate to maximise their profits rather than addressing the country\u2019s housing need,\u201d he said.<\/p>\n<p>Some developments with permissions in place are not due to reach completion for another 10 years.<\/p>\n<p>\u201cThese are private companies who are very simply trying to make money for their shareholders. They are restricting supply and the government urgently needs to come forward with measures to address this.\u201d<\/p>\n<p>Frustrations over the slow process of housebuilding in the country have been highlighted by Housing Minister <a href=\"https:\/\/www.gov.uk\/government\/people\/brandon-lewis\" target=\"_blank\"><span>Brandon Lewis<\/span><\/a>. Last week, he told the local government committee, \u201cWhen you have got housebuilders delivering, on average, 48 homes a year on some [large] sites that\u2019s not good enough.<\/p>\n<p>\u201cWe know they can go further. Housebuilders will talk about saturating the market. But we are aware that in too many places we are still taking 20 weeks to build a house when we can do it in three or four.\u201d<\/p>\n<p>New measures to speed up the development process are currently being discussed by ministers, who are concerned they will fall short of their commitment to build one million new homes by 2020. Proposals being discussed include forcing developers who buy publicly-owned land to commit to rapid construction as part of the planning process.<\/p>\n<p>Recent figures from Glenigan (on behalf of the Local Government Association) revealed some 475,647 homes in England that had been granted planning permission remained unbuilt in 2014\/15. This figure stood at 381,390 in 2012\/13 and 443,265 in 2013\/14.<\/p>\n<p>A spokesman for the <a href=\"http:\/\/www.hbf.co.uk\/\" target=\"_blank\"><span>Home Builders Federation<\/span><\/a> said the data showed an increase of 25 per cent to housing stock during 2014\/15. A total of 170,690 new net additions were made.<\/p>\n<p>He said: \u201cThe industry has delivered unprecedented increases in supply over the past two years driven predominantly by the large private sector housebuilders.<\/p>\n<p>\u201cThis has been on the back of the pro development policies introduced in recent years and a general increase in demand.\u201d<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The chair of the Local Government Select Committee has accused developers of restricting the supply of new homes in an attempt to increase their profits\u2026 Clive Betts, Labour MP and chair of the Local Government Select Committee, claims developers are failing to produce as many homes as they could to keep prices artificially high. He [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-23041","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Developers accused of restricting new home builds to increase profits | Planning, Building &amp; Construction Today<\/title>\n<meta name=\"description\" content=\"The chair of the Local Government Select Committee has accused developers of restricting the supply of new homes in an attempt to increase their profits\u2026\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/developers-accused-restricting-new-home-builds-increase-profits\/23041\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Developers accused of restricting new home builds to increase profits\" \/>\n<meta property=\"og:description\" content=\"The chair of the Local Government Select Committee has accused developers of restricting the supply of new homes in an attempt to increase their profits\u2026\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/developers-accused-restricting-new-home-builds-increase-profits\/23041\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; 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