?Permissions for new homes back to pre-crash levels
?Permissions being granted for the construction of new homes have returned to the levels experienced prior to the financial crash of 2008. This is according to the latest data published by the Home Builders Federation (HBF) as part of its ongoing Housing Pipeline report. It was specified that 56,647 homes were granted permissions in England for the second quarter of 2014, which is the highest number in more than six years. The report noted that this is consistent with a general upward trend that has seen a steady increase in the total permissions granted in recent months. Indeed, the HBF's Moving Annual Total now stands at 197,325 permissions in the 12 months to Q2, which is the level that not been seen since 2008.Construction analysts Glenigan produced the figures for the HBF - and the firm noted that this trend is also consistent with the levels of growth in private house building. The Help to Buy Equity Loan scheme was singled out as being one of the key driving factors behind the steadily building demand for new properties. This is because it has made it possible for builders to bolster the rate at which existing sites are established. Despite these positive developments, the HBF urged the industry as a whole to replace completed sites with new developments, so as to ensure production continues to grow. Executive chairman of the HBF Stewart Baseley said the boost to planning permissions is a very positive trend, adding it is important work on these sites going ahead as soon as possible. "We need to see work underway on more sites if the overall number of new homes being built is to continue to increase," he commented, adding: "In addition, too many sites with outline planning permission are now stuck in the planning system awaiting final permission to start on site. We estimate there could be as many as 150,000 plots across the country in such a position."
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