Development viability helped with continued scrapping of development levies and utilities contributions

With the head of property in the The Land Development Agency noting at the weekend that landowners are sitting on sites that can't be developed at #affordableprices it is instructive to look at the impact of current removal of levies and contributions on #viability. The removal helps viability although apartment delivery is still difficult. Additionally the Help to Buy scheme assists affordability and it's removal may increase the time required to save for buyers in many locations.

​Supply side and demand side initiatives are helping to close the affordability gap and may ensure that commencements in early 2024 continue to grow past 2023 levels. However, it is hard to know whether the growth in Q1 commencements over the 2023 number was partially down to the reimposition of the levies at the end of April.