Housing shortage s sits dry up
NEW research from Savills shows a growing development shortfall for housing.
The Savills Development Land Index anticipates that England will be short of 1.1 million homes by 2016 if more sites don’t become available for building.
The shortage of developable land is due to low levels of planning consents. These are now being granted at little more than half the levels seen in 2006 and 2007.
Across the UK, the Savills index shows that greenfield building land values increased by 2.1 per cent and urban land values by 2.2 per cent in the first three months of 2011, bringing annual growth to 7.7 per cent and 6.7 per cent respectively.