We are often reminded of the need to build more housing as the demography of our country changes.
The slow down in house building has been much reported over the past couple of years and we are not set to see the rate of housing delivery change greatly in the near future. Indeed, the very significant reduction in funding for new social housing combined with continued difficult trading conditions for the construction industry gives rise to added caution when new schemes are being considered. But, if we pause and look to the future, it is clear that we will need to see more housing built.
So what are your opportunities if you hold land which is going to be suitable for such development, or you have skills in promoting new schemes? Should you enter into an option agreement, or perhaps a promotion agreement, at least to secure the planning permission which is required? Might you seek an arrangement joining up two or more neighbouring landowners and working together to achieve a sale?