New polling shows landlords have little faith that government planning reforms will make any difference to Britain’s housing crisis with many dismissing targets as “unrealistic” and “undeliverable”.
Research by specialist buy-to-let lender Landbay found that more than three quarters of property investors (77%) believe planning changes will have no positive impact on their business.
Just 13% think relaxed rules might create more chances to buy new-build homes, while only 9% believe reforms will spur economic growth and boost rental demand.
Rob Stanton, sales and distribution director at Landbay, says the findings should be a wake-up call.
WE’RE IN TROUBLE
He adds: “If property investors are not convinced planning reform will positively affect their business, we’re in real trouble.
“Landlords are an important stakeholder in the system – they drive conversions, HMOs, refits and extensions, as well as investing in new-build housing. The scepticism and cynicism we’re seeing is damning.”
He points to major projects as evidence of a system bogged down in bureaucracy and says: “The Lower Thames Crossing has cost more than a quarter of a billion pounds just in planning and paperwork – without a single spade in the ground.”
Pic Credit: National Highways
“HS2 is now the most expensive railway line in the world. And the application to reopen the three-mile Portishead line runs to 80,000 pages – over 1,000 of them about bats.”
HOUSING CRISIS
Almost half (47%) of landlords said planning reform alone would not solve the housing crisis. Many pointed to the skills shortage in construction as a bigger barrier.
One landlord running a development company said housebuilding targets were “impossible to achieve with current levels of trades available”.
Another added: “The government has been setting new homes targets for years – nothing ever changes.”
