Housebuilder highlights wall of planning issues

Britain is unlikely to return quickly to the peak rate of housebuilding during the boom of the past decade, the chief executive of Taylor Wimpey has said. Despite reporting a rise in demand for new homes that was better than expected - running at nearly a third higher than the dark days at the end of 2015 - Peter Redfern said that planning requirements would hold back a wholesale recovery in building volumes. Mr Redfern said: ‘At the peak, the industry in the UK was building 170,000 units. That has halved and last year the industry completed around 85,000 to 90,000 units. It will be a very long time before we get back to those high volumes because of the constraints on land availability and the planning system.’