More new homes under Tory property plans

The volume of new homes built in Britain would increase under a Tory government, if the party were to press ahead with its proposed plans to ‘improve’ the planning system, as it would encourage more new home developers to construct new home builds, according to a number of trade industry professionals.

Land Securities, British Land, Grainger and Hermes, the pension fund, have all welcomed the Conservative Party's proposals to offer greater decision-making powers to local authorities, in relation to the construction of new homes in this country.

They also approve of the Tory’s proposal to generate additional funds by taxing income generated by new home builds.

The Tories believe that their ‘local’ policy would encourage more councils to modernise planning processes and encourage new home development, which could help solve the shortage of new flats and new houses in this country.

Chris Grigg, chief executive, of the British Land, said: “Removing burdens to development and growth has to be near the top of the agenda whoever wins the next election.

“Low interest rates and a cheap pound make the UK a great investment proposal and it is vital that we do not let outdated planning laws hinder recovery.”

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