"One of the main culprits is the 'Stalinist' planning regime which through its opaque, antiquated and labryinthian processes manages to slow down and restrict the supply of housing land (even brownfield sites, which are both politically and ecologically acceptable) which further exasperates the situation, resulting in a continuing imbalance of supply and demand, thereby artificially increasing house prices.
"This continuing 'constipation' in the planning process urgently needs a laxative. We understand that many planning departments are under resourced but it is palpably ridiculous that a house builder applying for planning consent for 300 units has to join the same queue as the man seeking to build a single storey extension.
"There should be a 'fast track' system for large scale housing schemes, where developers pay a 'club class' planning fee for a faster service. Many developers offer to pay for extra resources, like the use of external planning consultants to help speed up the process, but these offers are rarely taken up.
"Any attempt to improve and streamline the slow and archaic planning laws is to be welcomed. At present it can take two to three years to get permission, even on a brownfield site or one zoned for residential. This is not good either for the local environment or the homebuyer if potential building land is left sterilised, whilst prices continue to rise.
"In the planning arena, central government policy is in many instances streets ahead of local authority plans. What is urgently required is an alignment of interests, even if in the short term is has to be imposed."
Fiona Sadek of Knight Frank's residential research said:
"This report shows the medium term solution to the threat of an overheated buy to let market as investors would be more able to source stock at sustainable prices if supply constraints were eased. Appropriate mortgage products are being provided and the buyers remain willing to purchase at current market rates. The only missing element in the housing market is an efficient planning process."
