Residential Development

The Government’s Planning Policy Statement 3 (PPS 3) came into full force on the 1st April 2007 and the likelihood was that land values for smaller residential sites would fall, because it reduced the minimum development site threshold for affordable housing.

Had the property market held up and land values continued at high levels, this would almost certainly have been the case, but clearly with land values currently falling and little demand for residential sites, the position has completely changed. This may alter again over time, but probably not for several years. This means that only the very best possible developments with almost guaranteed outcomes are being considered and this generally involves a large amount of social housing for renting making progress.