Housebuilders in particular can take encouragement from today's budget, with the press conference emphasis on a new 'drive for homes' finally giving rise to legislative change - relaxing rules around the conversion of commercial to residential property is an important step, and will free up an estimated 266,000 commercial units for housing.
Vince Cable's much vaunted 'land auctions' also make the cut in the budget, with the first set of pilot auctions of undeveloped land from local owners scheduled for the summer. How successful these pilot projects is yet to be seen, but the willingness of both developers and cash-strapped councils to take a punt on undeveloped sites will be a concern.
Other headlines of the budget carry the usual emphasis on the relationship between property ownership and scoial mobility. In a bid to get first-time buyers onto the ladder, those with 5% deposits will now be eligible for a 20% government loan on top of income-assessed mortgage entitlements.
How all of this will sit alongside the Loclaism agenda, particularly in relation to pre-permissioned plots being sold to developers by local authorities at auction, is highly questionable. The Bill's resilience during its passage through parlaiment over the next 12 months will be key.
Pickles was congratualted on the strength, scope and ambition of the Bill when it finally came; all of that will count for nothing if it continues to unravel over the next nine months.
Ally Kennedy
Liberal Democrat Consultant
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