Planning system `pushing up land prices'
Tuesday 09 September 1997
David Wilson, chairman and chief executive, said a major land shortage was pushing up prices. "They have gone up by 20 per cent over the past year, which is irritating because it is entirely due to the shortage created by the planning system, which we are powerless to do anything about."
He said there was absolutely no reason why, after a planning inquiry had been held, it should take the minister 18 months to decide whether a development should be allowed to go ahead.
Mr Wilson called for local plans and planning inquiries to be speeded up.
He was speaking after his company announced a 68 per cent jump in pre- tax profits to pounds 29.1m for the six months to June.
The interim dividend is being raised 10 per cent to 3.3p, from earnings per share 72 per cent ahead at 21.2p.
The strong results came on the back of a 34 per cent jump in house sales, to 1,468, and an 11 per cent rise in the average selling price to pounds 113,500.
Mr Wilson said the good figures were the result of a stronger market in the part of the country south of Northampton and the expansion plans put in place two years ago.
Forward sales for the second half are currently running 20 per cent ahead of last year and the company is ahead of its target of achieving 3,000 house sales by the end of 1998.
But Mr Wilson said he did not think the housing market was overheating.
"We would be surprised if there was a need for interest rate rises or anything like that," he said.
The figures included 160 sales by Trencherwood, the small house-builder acquired last year, against 250 in the whole of 1996.
There was also an pounds 8.1m operating contribution from property development, up from pounds 4.5m before.
The company is expecting a considerable increase for the full year as well, with further office developments in Sheffield and Nottingham to come through in the second half.
- 1 Half of young women unable to ‘locate vagina’ and 65% find it difficult to say the word
- 2 Perez Hilton apologises for Jennifer Lawrence naked photo leak
- 3 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 4 Mexican woman becomes world’s 'oldest person' at 127
- 5 Jennifer Lawrence 'naked sex video' will be leaked threatens 4Chan celebrity photo hacker
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Ashya King: Parents of five-year-old boy refused permission to visit him in hospital and denied bail at Spanish court
With Douglas Carswell joining Ukip, my party has taken another giant step forward
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
Ashya King: 'Cruel NHS has not given us the treatment we need', says father of five-year-old with brain tumour who fled to Spain
iJobs Money & Business
£40000 - £50000 per annum + benefits+bonus+package: Harrington Starr: SQL Impl...
£85000 per annum: Harrington Starr: Head of IT (Windows, Server, VMware, SAN, ...
£40000 - £50000 per annum: Harrington Starr: You will not be expected to hav...
£500 per day: Harrington Starr: SQL DBA/Developer SQL, C#, VBA, Data Warehousi...