Decline in change of use constricting housing supply
Original Article Summary
A decline in conversion projects could ultimately prevent the government from hitting its ambitious housing delivery targets, Jonathan Samuels, chief executive of lender Octane Capital, has argued. Government figures on net housing supply show that in the past five years a total of 114,961 homes were delivered through change of use, a 22% fall compared […] The post Decline in change of use constricting housing supply appeared first on PropertyWire.
PropMatch Curated Analysis
Change of use housing delivery has fallen 22% over the past five years due to stricter planning rules, higher costs, and cautious lending, potentially undermining government housing targets and creating challenges for conversion-focused developers.
Investor Relevance
Critical for developers focused on conversion projects as it highlights a contracting market with increased barriers to entry. Signals potential opportunities for those who can navigate the challenges, while warning of increased competition for viable sites and stricter financing requirements.
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