HBF Planning Conference Reaping the rewards of Housing Market Assessments Yolande Barnes Director, Savills Research 14 September 2006
some background on demand and supply are HMAs good news or (yet) another excuse for consultants to make money? what should an HMA include? outline
some background on demand and supply
UK build rates are the lowest in Western Europe … Source: RICS, Savills Research
… and dont always hit planned targets Source:Savills, regional planning documents & DCLG
market pricing shows quality disparity Source: Land Registry/Savills Research
we just aint building them any more …
… or creating the new ubertowns Source: Savills Research
when competing for scarce space …
… the size of your club matters
(although we think were more sophisticated now)
demand and supply interact Source: HM Land Registry, CACI
a good HMA will add value
market expertise is needed at an early stage Source: Savills Research
the market for some schemes may be wider than you thought … Source: Savills using Census 2001
… some developments will create their own market …
… competition from other new stock will have an impact … Source: Savills Research
changing demographics will affect demand and demand will change market demographics … Source: ONS
… HMAs can inform the development mix to exploit market niches and fulfil latent demand Source: Savills Size range (sq.ft.)Units% 1 bed flats % 2 bed flats % Larger flats/ smaller houses % Smaller houses % Larger houses ,01032% Total 3,140100%
optimising development through understanding the market provides an edge Source: Savills
so what should an HMA include?
social housing need excludes two-thirds of occupiers it is not an old-fashioned housing assessment
1.Supply current future 2.Demand current future it goes beyond standard development feasibility studies
1.inclusive all occupiers 2.dynamic over space over time between occupier groups 3.interactive critical mass development impact phasing impact existing and created demand housing market assessments need to be: