Government's New Planning Policy Should Encourage Family Homes

Don't switch off - this is boring but important!
A new planning policy statement (PPS3) has been released by the Government, which will hopefully shift the emphasis from high density development towards greater choice in the market.
It's been welcomed by the market. For example, Stewart Lilly of the NAEA, comments: “The Government’s previous planning guidance – PPG3, issued in 2001 – has led to difficulties in some areas as it promoted too much higher density development at the cost of buyer choice. We have seen the situation in certain towns where the PPG3 guidance resulted in the construction of large numbers of flats where demand for them was low. Consequently, developers have seen the value of some units drop significantly. With the new PPS3 reforms, which seem to promote the provision of more family homes, hopefully we will see the balance redressed."
Amen to that! And this should start to redress the balance towards builders building the properties we need. Investors should take note but it will be years before you start to see any impact on house prices which will continue to outperform flats.

Back in the UK

I'm back in the UK after a lovely holiday in Antigua.
A s usual the first thing you notice is the general rudeness of a large number of people and the high levels of stress in London.
And yes, I see property prices are still marching ever upwards.
Whilst away I read PR for Dummies (twice) and Fly to Let (once) by Peter Conradi of the Sunday Times. A very good book I thought and I'll comment more on this later in the week.
You know when all is said and done about investing anywhere one of the key things you need to ask is what will happen with supply of property.
If I was looking at buying anywhere in the UK or abroad I would find the local equivalent of a surveyor and ask them that question.
It's more important than wage ratios to house prices and all that gumpf.
If they are going to (or have the ability) to build build build on your patch of wherever it happens to be, then prices and rents wont go up much.