Tag Archives: shows
Lack of resources in councils holding up major planning applications
Major new planning applications in English cities are taking well over six months to determine due to a lack of resources, new research suggests. Both developers and local authorities have identified a lack of resource within planning departments as a key barrier to development. The majority of developers believe higher planning fees might be part of a potential solution, helping local authorities shorten waiting times and improve performance. The average submission to determination time for a major planning application is 32 weeks across London, Greater Manchester and Bristol and the surrounding area, over double the government target of 13 weeks. In addition to this, and despite a worsening housing crisis, the overall volume of major applications determined in London fell by 26%, according to the fourth Annual Planning Survey from the British Property Federation and GL Hearn, part of Capita plc. Both public and private sector respondents to the survey expressed concern with the lack of resources available to local planning authorities. Some 55% of local authorities say under resourcing is a significant challenge and 50% believe the planning system is not operating as well as it was in 2010. Also a significant 75% of applicants are dissatisfied with the length of time a planning application takes, up from 71% last year. The survey found that 65% of applicants would be happy to pay more if it would shorten determination times. The details of the research shows that in London, the average submission to determination time is 34 weeks, some six weeks longer than last year’s study but a modest improvement from 2011/2012 when it stood at 37 weeks. The average submission to determination time is 27 weeks in both Greater Manchester, Bristol and the surrounding area. The volume of major planning applications determined has fallen by 26% in London, increased by 19% in Manchester, and stayed the same in Bristol and the surrounding area. In line with diminishing land opportunities in the capital, densification is a more prevalent priority for applicants in London at 47% compared to applicants in the North West at 14%. ‘In order to get Britain building again, we need to get Britain planning. Development activity is critical for our economy, not least in order to tackle the urgent housing crisis. This year’s Annual Planning Survey shows that the planning system needs investment and that requires action across the board,’ said Shaun Andrews, GL Hearn’s head of investor and developer planning. ‘We need to ensure that planning authorities have the right people with the right skills and powers in place to drive forward a growth agenda and that the system is able to release the right resources when it’s needed. For their part, developers need to speak with a single voice and make it clear what levels of service they need and how much they are prepared to pay for it,’ he pointed out. ‘There is… Continue reading
Majority of Americans believe in home ownership and are positive about the market
The majority of people in the United States believe that buying a home is a good financial decision, that now is a good time to buy and that they could sell their home for at least its initial purchase price. The survey from the National Association of Realtors which measures consumers' attitudes and concerns about housing issues in the nation's 50 largest metropolitan statistical areas, found that more than eight in 10 Americans are positive about the housing market. Some 68% believe that now is a good time to buy a home, 71% that they could sell their house for what they paid for it, a jump of 16% compared to 2013, the data shows. When asked for reasons about why home ownership matters to them, respondents’ answers have not changed significantly from past years. Building equity, wanting a stable and safe environment, and having the freedom to choose their neighbourhood remain the top three reasons to own a home. ‘Home ownership is part of the American Dream, and this survey proves that dream is alive and thriving in our communities,’ said NAR president Chris Polychron. The research also found that the number of renters who are now thinking about purchasing a home has increased since the last survey in 2013, up from 36% to 39and 61% said that owning a home is a priority for their future. According to the survey 80% of respondents believe that pre-purchase counselling programmes and classes are very or somewhat important. Indeed, 45% of home owners who said they did not take a counselling programme reported they would have taken part in one had it been easily available to them. Attitudes about the housing market have improved in recent years and 49% of respondents indicated that they feel activity in the housing market has increased in the past year, compared to 44% in 2013 and 12% in 2011. The study shows that 89% expect home sales in their area to either increase or remain the same. Concern about foreclosures has also declined, with only 15% of respondents indicating that foreclosure is a major concern. In addition to improved attitudes about the housing market, survey participants also showed an improved outlook regarding the economy. Only 36% think that job layoffs and unemployment are a big problem, a substantial drop from 45% in 2013. Perceived obstacles to home ownership have remained mostly unchanged compared to recent years and 78% of respondents pointed to college debt and student loans as the main obstacle to making a home purchase affordable. On top of this 76% said they have a full time job but still did not make enough money to purchase a home while 74% believe they do not have enough money for a down payment and closing costs. As the market has improved, concern about the cost of housing has increased. Two thirds of survey participants said that home prices are more expensive than they were a year ago. There is… Continue reading
Access to a mortgage still regarded as a major barrier for new UK home owners
Just 12% of UK adults believe access to mortgages has improved in the past five years, but not enough, despite recent moves to open up the mortgage market, new research has found. This is a substantial drop from 29% recorded in similar research commissioned by Precise Mortgages last year. Despite this negative sentiment, the report witnessed improvement in some of the wider issues facing home owners. Over the last year UK renters, in general, see saving for a deposit, finding an affordable property and getting a mortgage approved less of a barrier to owning their own home than in 2014. However, some 49% of UK adults believe that mortgage rates only favour those with large deposits and 36% feel that mortgages are too difficult to obtain for first time buyers. But 76% of renters aged between 18 and 24 regard saving enough for a deposit as a barrier to owning their own home, and 67% say finding an affordable property is a barrier. With the average cost of a property now upward of £200,000and house price inflation set to hit 6% this year, affordability is likely to remain a challenge for first time buyers, the research suggests. Despite an uphill battle some 41% of those renting aged 18 to 24 still hope to own their own home in the next five years. However, amongst the older demographic the situation differs, with only 14% of renters aged 45 to 54 planning to own a property in the next five years, with the majority at 67% having no aspirations to be a home owner. ‘Prospective home buyers are feeling more positive about their ability to save and find an affordable property, but with consumer sentiment towards mortgage accessibility falling in the last year, the industry has a vital job to do in reassuring prospective home owners,’ said Alan Cleary, managing director of Precise Mortgages. ‘The mortgage industry should serve prospective homebuyers, and we must dispel the belief that lenders continue to favour large deposits and are unforgiving of those with blemishes on their credit record,’ he explained. ‘There are specialist lenders in the market ideally placed to help navigate the obstacles potential home buyers face, but there is still more to be done across the wider industry. Ensuring that all viable home owners have access to mortgage products should be the aim of the industry as a whole,’ he added. Continue reading
