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Only first time mortgages will give extra boost to the Yorkshire residential housing sector

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A survey of leading Yorkshire developers by our property team has highlighted the availability of mortgages as the single most crucial factor in ensuring the recovery of homebuilders in the region.

A survey of leading Yorkshire developers by our property team has highlighted the availability of mortgages as the single most crucial factor in ensuring the recovery of homebuilders in the region.

Sixty-five per cent of those questioned said that the availability of first time mortgages was the single most important factor, ahead of commercial funding that was considered the most crucial aspect by 29 per cent of the developers, architects and landowners who attended the event hosted at a Leeds hotel last week by Clarion partner James Lawson.

Only six per cent of those questioned believed that the availability of land with planning permission would be a critical factor over the coming year.

The survey was undertaken at seminar giving advice to Yorkshire developers and landowners about housing delivery and ways of maximising opportunities in a new planning regime. Architect Ian Bryant of QAD Architects and Tim Waring, a director at the national planning consultancy Indigo, were also speakers at the event.

“The impact of the Government’s new planning regime was welcomed, with over 90 per cent of the property professionals surveyed stating that the prospects for the residential development sector have improved post the changes introduced by the coalition, a rare vote of confidence from business for a Government policy,” said Mr Lawson.

“Whilst challenges remain, there are signs of cautious optimism in the residential property sector at present, with increased activity and available land stock, and it is clear the will and resource are there to deliver the housing – the next crucial step is for the Government, the housing industry and the banks, to focus on effective ways to deliver mortgage lending at the foot of the ladder and add momentum to this sector of the economy.”