Recently Barton Willmore jointly produced new research with Knight Frank identifying Local Authorities (LAs) where economic and planning data, combined with regional knowledge, suggests good fundamentals for residential development in the short to medium term, writes Dan Mitchell of Barton Willmore.
The factors that were taken into account included 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 Local 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 and offering the greatest potential for price outperformance and market absorption.
Fundamentally for the North West, Manchester and Leeds are expected to be among the LAs which will experience the strongest rates of household growth over the next ten years.
The report highlights some very exciting opportunities across the country demonstrating from an economic and planning perspective where these development opportunities are likely to be helping to address the well documented housing shortage in England.
A copy of the Research Report can be downloaded here.
This article was originally published through Place Resources