Housebuilders Respond To The Need For More Family Homes

Latest analysis is indicating that developers are responding to the need for more family homes, with the number of houses being built in the UK as compared to apartments increasing by 2% during the past 12 months.
 
The past four months have also seen the average plot size increasing, reversing the trend of the last year, with a 0.5% increase in plot size since March 2007.

The analysis comes from Wolsey Securities whose finance is behind over 2,300 homes across the country, across 130 developments from Perth to Penzance.

The analysis also shows that 41% of new homes being built within Wolsey’s portfolio are now houses. The proportion of detached, semi-detached and terraced properties being built has increased by 2% on a year ago
According to the latest statistics the average plot size in Wolsey’s portfolio has also increased by 0.5% in the last four months. This coincides with an increased percentage in the number of houses being built, within the portfolio. However, plot sizes are still down by 0.8% on a year ago.

Tim Percival, Chairman of Wolsey Securities Southern region, says: “In recent years there has been a drive towards greater density housebuilding; as a result we are now seeing potential overheating of high-density apartment development in certain markets. Ultimately, it is important that market forces of supply and demand drive what is build and where, not planning policy.

“The Government has concerns over the shortfall in new homes. Where it can help address this is by driving reforms to create a more efficient planning process; and free up more brownfield land. “If housebuilders are to meet national new homes targets the Government needs to ensure councils are identifying and encouraging the redevelopment of neglected brownfield sites in appropriate locations for viable residential development.

“Such recycling not only puts more homes into the community, it is also eco-friendly in that resources are being recycled and the pressure on what is often seen as the ‘easier’ option of Greenfield redevelopment is reduced.”