The newest analysis by Birmingham and Newcastle-based property developer, StripeHomes, has analysed what number of new properties could possibly be constructed if England made a small portion of its incorrectly categorized Inexperienced Belt land accessible for growth.
England’s Inexperienced Belt land presently covers 1.7 million hectares, equal to virtually 17 billion sq. ft, however there are massive areas, significantly these classed as ‘Metropolitan Inexperienced Belt’, that many consider have been wrongly categorized and will assist in terms of fixing the housing disaster.
Only one p.c of the nation’s 17bn sq. ft of Inexperienced Belt is simply north of 169 million sq. ft of land. A mean home is 73.45 sq. ft, which implies 1% of Inexperienced Belt land is sufficient area to construct greater than 2.3 million new properties.
At a mean worth of £351,308, these new properties would have a mixed market worth of £810 billion: all from simply 1% of the Inexperienced Belt.
In England’s South East, there are 356,000 hectares of Inexperienced Belt land. Utilizing the identical calculation as above, utilizing simply 1% of this land is sufficient to construct greater than 484,000 new properties with a mixed worth of £207.5 billion.
1% of West Midlands Inexperienced Belt is sufficient for 361,000 new properties; 1% of the land in Yorkshire & Humber is sufficient area for 357,000 new properties; and 1% of the North West’s 256,000 hectares of Inexperienced Belt land is room sufficient for greater than 348,000 new properties.
Changing simply 1% of Inexperienced Belt land could be sufficient area for 318,000 new properties within the East of England; 187,000 new properties within the South West; 106,000 new properties within the East Midlands; 98,000 new properties within the North East; and 47,000 new properties in London
Managing Director of StripeHomes, James Forrester, commented: “Constructing on England’s Inexperienced Belt land must be a final resort when all else fails but it surely’s truthful to say that failure is an understatement in terms of the federal government’s makes an attempt to handle the present housing disaster.
It’s additionally truthful to say that there are massive areas of Inexperienced Belt land which have been wrongly categorized and are literally made up of former industrial websites and different plots that carry little profit to the broader space of their present state.
Utilising these wrongly categorized plots may assist ship a terrific deal extra properties and tackle the present housing disaster and, as our analysis exhibits, simply 1% may go a great distance.
What’s extra, smart and conscientious growth on such plots of land may truly make the area ‘greener’ and extra sustainable, in addition to bringing larger profit to the broader neighborhood.”