None of the UK’s biggest housebuilders deliberately sit on land they own, waiting for it to rise in value to maximise profits, a government-commissioned review has concluded.
A report by Sir Oliver Letwin, the former Conservative policy chief, has dismissed a widely-held belief that big builders speculatively “land bank”.
For years, builders have faced allegations that they buy up land where they think there is likely to be demand for new homes, obtain planning permission, then wait for the value of the land to rise, only starting to build when its profitability can be maximised.
