According to Labour, planning reform is one of their top priorities for stimulating growth in the housing sector and the economy.
Chancellor Rachel Reeves said: “We need to change how our planning system works – speed it up, stop the bureaucracies that are tying up investments in red tape”.
When it comes to development, Labour has committed itself to a brownfield-first approach but is open to strategically reassessing greenbelt land while protecting “genuine nature spots.” This includes “grey belt” land, a new designation consisting of “low-quality” land. In the past, Labour also put forward the idea of a “planning passport” for fast-track approval on urban brownfield land, commonly used for new residential property developments.
These policies, along with new house-building targets, have been received well on the market, raising the share price of property developers after the Labour win was announced.
