In 2009/10, 2,258 homes were approved. In 2013/2014, the number had risen to 5,607. By the following year, 2014/2015, it had more than doubled to 11,977.(“Building on Greenbelt Land Has Soared over Five Years – BBC News”), England has 13 greenbelts covering 13% of the land, 1,639,560 hectares.
This number has been reduced by 32 000 hectares in last 10 years. This represents less than 1% of total greenbelt land.
Close comparison of the greenbelt map and Lumino city maps show that the UK population by in large are centred in the major urban centres, but these are tightly surrounded by green belts. (“Luminocity3d”)(Quilty-Harper), therefore as the population centres are expanding outwards it’s only a matter of time until the established greenbelt borders are going to be encroached on.
Relaxing Reits legislation thus making corporate residential investing just as profitable as commercial development.
A look at the numbers…if we started tomorrow we would need to build 782 homes per day …every day, (including weekends, and all holidays).
The National Housing Federation estimated 974,000 homes were needed between 2011 and 2014. But figures from 326 councils showed only 457,490 were built during that period.
Some 240,000 planning applications were given detailed permission in 2014.
Compared with 158,000 in 2011(“‘Million’ New Homes Aim Declared by Minister Brandon Lewis – BBC News”)
Assuming companies the size of Prudential would invest £1BLN each into housebuilding schemes, which is a minute percentage of their available funding into residential developments, and,
Assuming bench mark industry figures of £1000 per sq. m of new construction costs, then 13 333 family size 75 sq. Meter, family homes could be built per scheme per company.
Assuming 25 such funds qualify in the UK (in reality there are 100s of funds of this size),
Then 333 000 additional homes would be built, add this to the current 150 000 per annum, and we are approaching 480 000 new housing units per year.