Matt Frei 10am - 1pm
Property Developer Nails Housing Crisis In One Hit
22 July 2018, 18:12
A small scale property developer sitting on a plot of land explains why planning processes need to be liberalised if the housing crisis is going to end.
A property developer who purchased a plot of land says planning processes should be liberalised because they make it difficult for developers to build new property.
Kundran told Andrew Castle that he bought a plot of land for about half a million, and it has enough room to build 6 or seven modern apartments.
But the developer has been unable to start building because planning hasn't come through.
Working out the maths, it was estimated that after the land purchase, construction costs, and tax, the profit made on any development would be more than £1.3 million.
"But I'm the one taking all the risk," he said.
"It's not going to be the government that's going to solve this problem.
"I don't know why people expect the government to come in and get their JCB's out and start digging and building houses - it is ultimately going to be private enterprise."