In a landmark move to combat stagnation in Britain’s housing delivery, the Government has unveiled plans to penalise housebuilders who fail to develop land with planning permission in a timely manner. The new housebuilding accountability rules aim to crack down on developers who “land bank” or delay construction to profit from rising land values.
Under the proposals, developers will be required to commit to delivery timelines before being granted planning approval. They will also need to submit annual progress reports to local councils to demonstrate steady development.
