Redrow warns of pre-election planning lag

Aaron Morby 10 years ago
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Outspoken Redrow chairman Steve Morgan has warned of a new planning hiatus as councils grow nervous about controversial schemes in the run up to next year’s election.

In a half-year trading statement for the house builder he warned: “Political posturing ahead of next year’s General Election is already having a detrimental impact on the time taken to grant planning permissions in many parts of the country.

“While the planning system at a strategic level has improved over recent years, obtaining detailed consents and clearing countless unnecessary conditions remains a significant constraint on new outlet openings and growth.”

Morgan also confirmed the housing market had returned to more traditional levels of transaction this Autumn after a surge in demand created by the Government’s Help to Buy scheme.

He said: “This summer, reverted to a more normal level of activity.

“This, combined with a lack of availability on many of our sites due to the strong sales position, produced a sales rate per outlet per week for our regional businesses of 0.65, compared to the abnormally high rate of 0.87 in the summer of 2013.”

Morgan said: “During the last 10 weeks we have experienced a traditional autumn market and the sales rate, excluding London, was 0.68, in line with last year.

Redrow’s average selling price of private homes in the year to date is 4% ahead of the same period last year at £284,000.

Since the start of the financial year Redrow has added 1,500 plots across 14 sites to its current land bank.

This helped to lift  land with a planning permission, both owned and contracted, to 16,914 plots.

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