Released on: December 1, 2007, 4:00 am

Press Release Author: Jim watson

Industry: Real Estate

Press Release Summary: The future of the housing market has been the subject of so
much conjecture and debate that the list of considerations is notably long. No less
than 37 issues have been identified in the Calcutt report released today

Press Release Body: The future of the housing market has been the subject of so much
conjecture and debate that the list of considerations is notably long. No less than
37 issues have been identified in the Calcutt report released today, if the number
of recommendations is any guide.

John Calcutt, formerly chief executive of English Partnerships, was tasked last year
by the government with finding ways the target of building 240,000 new homes a year
up to 2016 could be achieved. Apart from the sheer number, the issues of zero carbon
building and avoiding concreting over the greenbelt were also included in his remit.


The report which emerged has nonetheless argued that all these things are
achievable, which will be of interest to anyone concerned with the property market,
be they looking at the residential sector or the prospects for buy-to-let, since
building more homes is relevant to meeting increases in demand in both.

Mr Calcutt\'s review listed a number of ways this could occur which were condensed
into five specific propositions. He argued that what was needed were more incentives
for the public and private sectors alike, more public sector efforts to develop
infrastructure where new developments might take place, better regulation, more
government help in the zero carbon field and more community management.

The government responded with five ideas of its own, with housing minister Yvette
Cooper outlining how new standards, regulations and support would be produced to aid
the task. One of these was to provide a new strict definition of what defined a
substantial start to a development, since some developments had been left lying idle
with nothing more than a trench dug.

Ms Cooper said: \"As John rightly acknowledges, this is an extremely challenging
target but attainable - we are absolutely committed and there will be no wavering\",
signaling the government\'s determination to tackle the problem as well, perhaps, as
realising the political price of failure.

One key element may be the success of another of Ms Cooper\'s proposals; to ensure
councils fast-track land for development. Welcoming the news that Mr Calcutt did not
believe the greenbelt would have to sacrificed to build houses, Neil Sinden, policy
director for the Campaign for the Protection of Rural England said: \"Planners are
seriously underestimating the amount of brownfield land that can be redeveloped\" and
called for a target of 75 per cent of new homes to be built on such land by 2011.

Failing to solve the housing crisis will have a political price for the government.
So too might any controversy over greenbelt building. In declaring that
concentrating on brownfield development can meet the target, Mr Calcutt has set a
challenge which must be met. If it is not, the consequences will also be significant
for the property industry.

In today\'s world Property investment is an excellent investment option especially
investment in UK

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