As the government wraps up a consultation on how to make property development more transparent, attention is turning to the hot topic of land banking [when developers buy land but don’t build on it for years].
With the UK facing a housing shortage and pressure to improve infrastructure, the government is introducing big changes to stop developers from sitting on land without using it. Here’s what’s changing, and what it could mean for developers and property managers.
V. What This Means for Developers
I. More risk for land hoarders: Holding on to empty land could lead to financial penalties and other costs.
II. Smarter planning needed: Developers will need clear, realistic building timelines to avoid trouble.
III. Opportunities for fast movers: Those who are ready to build quickly and efficiently may find more land on the market and could benefit from better local infrastructure funded through the new levy.
Government Cracks Down on Land Banking [Part 5]
As the government wraps up a consultation on how to make property development more transparent, attention is turning to the hot topic of land banking [when developers buy land but don’t build on it for years].
With the UK facing a housing shortage and pressure to improve infrastructure, the government is introducing big changes to stop developers from sitting on land without using it. Here’s what’s changing, and what it could mean for developers and property managers.
V. What This Means for Developers
I. More risk for land hoarders: Holding on to empty land could lead to financial penalties and other costs.
II. Smarter planning needed: Developers will need clear, realistic building timelines to avoid trouble.
III. Opportunities for fast movers: Those who are ready to build quickly and efficiently may find more land on the market and could benefit from better local infrastructure funded through the new levy.
ADAPT EARLY—PLAN SMART—BUILD FAST