Fix the planning system
The planning system is on the brink of collapse, plagued by a conflict of interest that ousts pro-development councils during local elections.
This flawed process forces councillors to vote against their own plans, leading to costly delays as inspectors and the former secretary of state become involved.
The unnecessary logjams are costing developers millions.
We must act decisively – demand independent decision-making to eliminate conflicts tied to re-election, and call for private sector assistance to clear the backlog of applications. Time is of the essence. Let's ensure a fair and efficient planning system.
Prioritise social housing
To deliver the level of social housing required, we need to take the pressure off the private sector by empowering councils.
Compulsory purchase orders need further reform, for example introducing some automatic conditions under which authorities can exercise compulsory purchase powers without paying 'hope value' would simplify the process and avoid the need for authorities to ask and probe the Labour party as to what is officially deemed in the public interest, and avoid a flood of applications related to purchasing many small plots, which would jam the system.
Local targets should also be set to encourage powers they have been afforded.
Alleviate restrictions on conversions and brownfield sites
It's time to incentivise developers to build on brownfield land. Support the automatic granting of planning permission for sites with plans meeting minimum ESG requirements.
Let's prioritise the use of existing buildings over new constructions, and advocate for the lifting of restrictions on conversion projects.
Actively push for sustainable development and contribute to a greener future.
Lenders have an important part to play
Developments require capital and smaller developers will need to seek finance from challenger bank or non-bank lenders able to offer flexible terms and evaluate risk in changing market conditions.
At Ask we will be looking to support well-capitalised developers with creative strategies to bring the much-needed new homes and commercial accommodation to market in line with occupier demand.
It is crucial to acknowledge that addressing the challenges our nation currently faces requires a sustained and committed effort. We urge the Labour party to stand firm in its commitment, even if it means facing temporary unpopularity.
Embrace a pro-growth agenda and effectively communicate the repercussions of the supply-demand imbalance on home affordability.
The issue at hand is distinctive to the UK, with the only silver lining being the influx of foreign investment into our real estate market. Investors seeking a secure haven for long-term capital recognise the potential under-service in our housing market for the next five to 20 years.
To ensure a prosperous future, we implore you to take decisive action, leading us toward a balanced and sustainable housing market.
Daniel Austin is chief executive and co-founder of Ask Partners
