Resi planning crashes by a third

The number of plans submitted for residential development crashed by 31% in the third quarter, year-on-year, EG’s first UK Planning Update shows, as the government gears up to announce ambitious housing targets in the 2017 Budget. Some 7,133 residential applications were filed in Q3 2017, down from 10,338 a year ago, according to figures released days after chancellor Philip Hammond said he would pledge 300,000 new homes per year in Wednesday’s Budget. The total number of homes submitted for planning fell 22.5% from 259,428 to 201,091, year-on-year. The residential figures stand in stark contrast to the rest of the market,