UK Property Building BOOM on its way

You read that right, despite everything…it’s UK Property Building BOOM time in the UK.

Despite everything, that includes difficult trading conditions for the building and construction industry. Materials shortages and spiralling costs are difficult. But as the economy shows a glimmer of life following the UK’s departure from Europe. We carried out some research and it can be clearly seen via the UK Governments statistical data sets. That planning decisions and more importantly approvals are on the up.

Source gov.uk live planning application statistics tables

Options for Investment

Property remains a stronghold for investment with research depicting the highest level of planning applications in recent months. A lull in planning usually results in a stall of construction of new property. Whereas a increment in planning applications can be a prelude to construction growth. Although some planning may be sought in pursuit of land sale.

Research Corroboration

UK debt advisors Sirius Finance reveals that certain areas of the UK are set for a property building boom. Their research uncovered the following:

  • Across the UK, almost 24,500 planning applications are received on average each month. Just over 20,500 (84%) of those being successful.
  • Northern Ireland is home to the highest average monthly success rate for planning applications approved. 95% of all applications given the green light each month. This is followed by the North East at 92% and Wales at 97%.
  • However, these regions are also home to some of the lowest average monthly totals of planning permission submitted. Accounting for 0.5%, 2.3% and 3.8% of respective successful planning applications.
  • In fact, it’s the South East that looks set for the biggest building boom in 2023 so far, with 4,491 planning applications made on average each month. While just 84% of these applications are successful, this equates to 3,772 successful applications each and every month, 18.4% of the UK total.
  • At just 75%, London is home to the lowest percentage of successful planning applications across the UK. But despite this, the 3,444 successful bids seen across the capital on a monthly basis account for 16.8% of the national total.
  • The East of England (12.7%), South West (10.4%) and North West (8.3%) also account for some of the highest levels of successful planning applications made each month across the UK

Commercial Growth

The news that we are facing a property boom follows on from 2022 when it was widely reported that commercial development applications were on the rise with the driving force being increasing numbers of decisions and consents being granted.

Important Information

The details of this article are from trusted sources and are not intended to be used as advice. When looking for investment advice, we always advise seeking appropriate professional advice. That said we have a selection of products to assist you and your business, including sale and lease back Business Bridging Finance, Business Loans and Capital Allowances. Contact our team for details, use the free phone number 0800 656 966or complete one of our online forms.

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