Taylor Wimpey chief executive Pete Redfern has described Conservative housing plans as "scary as hell" - but stressed that he expects the industry to cope with what is thrown at it.
Speaking this morning to Housebuilder, Redfern expressed concern over plans by the Tories to scrap Regional Spatial Strategies and targets and to give more power over development decisions to local communities. "We spend an awful lot of time and effort dealing with planning authorities many of which are not minded toward construction to make them understand the need for building at scale and the RSSs reflect that - to have them taken away at a stroke is a considerable concern," he said.
He added that the Conservative plans could arguably become a good policy but that there is a lack of a plan to make the transition to the new system. "To throw away the current system just as its starting to work, that's the bit that's most worrying. What happens if after a year applications are down to (for instance) 20% of what they are now - what will be the trigger to act?"
However Redfern added: "In the short or long term, we are practical people and we will make things work."
Redfern said that the market was "surprisingly better than expected" and had been for nine or ten months. Taylor Wimpey had seen a price recovery this year, with the market stabilising up until May and prices up 2% since then. Build out speeds on site, having dropped to half "normal" levels last year, were now rising again to two-thirds of "normal" levels, but there was a strong connection between construction and sales.
Source: Housebuilder
See Also: Property News (6680), Taylor Wimpey (1849)
Date Published: 19 October 2009
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