Published: Thursday, 26th November 2015
New research from Knight Frank and planning consultancy Barton Willmore has identified local authority areas where economic and planning data, suggest good fundamentals for residential development.
Factors taken into account include forecast economic and employment growth, as well as future housing supply and demand. Sales to stock ratios, social environment, infrastructure and affordability were also measured.
Local planning knowledge was then added, examining which planning authorities had a five-year land supply and where a local plan was in place, as well as looking at policy support for housing and economic growth.
This, along with input from Knight Frank land agents, resulted in a list of areas where the fundamentals suggested development opportunities.
Key findings highlighted that:
- Manchester and Leeds are expected to be among the councils which will experience the strongest rates of household growth over the next ten years
- In the Midlands, Warwick scores highly on “liveability”, and also has strong employment growth forecasts, while robust household growth is projected in Leicester
- Brentwood is one of the hotspots with the strongest forecasts for future employment increases, as well as showing one of the largest imbalances between pipeline supply and household growth over the next five years
- South Cambridgeshire also has a particularly strong forecast for employment growth and has been rated highest in an independent survey of rural locations across the UK
- Bristol and Bath & North East Somerset local authorities have a local plan and a five-year housing supply, and the determination to step up development
- Guildford and Reigate & Banstead in Surrey are well positioned to take advantage of the housing need generated by the capital.
Iain Painting, Senior Planning Partner, Barton Wilmore, said: “Our shortlist of development opportunities is aligned with an increased emphasis on urbanisation, focusing on many of England’s key cities both in and well beyond the South East.
“Opportunities exist where local authorities are struggling to source a five-year land supply through the local plan system, such as York, but also where councils have a positive appetite for growth, supported by policy, such as Leeds and Bath.”