Housing shares are building up some good gains, in a quiet market, helped by news of a rise in planning permissions.
The Home Builders Federation said residential permissions rose to 50,500 in the first quarter, up 12% on the same time last year although down on the last three months of 2013.
The increase in activity has largely been driven by the Help to Buy equity loan scheme, but the federation said it was vital to speed up the planning process. It said:
Too many sites with outline planning permission are now stuck in the planning system awaiting final permission to start on site. We estimate there could be as many as 150000 plots across the country in such a position.
Everyone wants to see house building levels increase and government should act now to speed up the planning process. It should ensure local authorities have adequately resourced planning departments that can cope with the new level of demand so they can meet their housing and planning obligations.
The continuing demand for housing has helped lift Barratt Developments 7.8p to 374.4p, Persimmon 19p to £13.15, Crest Nicholson 10.2p to 345p and Taylor Wimpey 2p to 113.9p.
