The east of England sees high numbers of successful planning applications
The east of England is one of the areas of the UK currently seeing some of the highest levels of successful planning applications each month.
Research has shown that across the UK, almost 24,500 planning applications are received on average each month at the moment, with just over 20,500 (84 per cent) of those successful.
The south east accounts for 18.4 per cent of the successful UK total and London 16.8 per cent.
However, some 12.7 per cent are from the east of England, with the south west following closely behind at 10.4 per cent and north west at 8.3 per cent.
The research by debt advisory specialists Sirius Property Finance suggests these areas
of Britain, including the east, may be set for a property building boom.
Northern Ireland is home to the highest average monthly success rate for planning applications approved, with 95 per cent of all applications given the green light each month, followed by the north east at 92 per cent and Wales at 97 per cent.
However, these regions are also home to some of the lowest average monthly totals of planning permission submitted, accounting for 0.5 per cent, 2.3 per cent and 3.8 per cent of respective successful planning applications.
Nicholas Christofi, managing director of Sirius Property Finance, says:
“Despite the economic uncertainty that came during the closing stages of 2022, we’ve continued to see a high level of market activity when it comes to the financing of both commercial and residential developments across the UK.
“What’s perhaps more telling is the higher propensity of these developments in higher value regions such as the south east and London, which suggest that a robust level of confidence remains in the market and that any fears of a property price downturn are largely behind us.
“More encouraging still, is the fact that the majority of applications made are getting approval and this bodes very well for the health of the market moving forward, both in terms of ability to actually build, as well as the delivery of this stock to avoid any future periods of market stagnation.”