To: Local Council

Make housing developers be transparent in Norwich

Make housing developers be transparent in Norwich

Require developers to make their viability assessments public if they claim they cannot meet council targets of affordable housing in new developments.

Why is this important?

Current planning law states that if a developer will make less than 20% profit on a new development, they can ignore a council's regulations about building affordable and social housing.

Leaked documents from several developers have shown that the maths they use to work out their profit margins are purposefully misleading, allowing them to claim they will make less than 20% profit on a development by undervaluing the prices of the houses they will sell and over-costing the labour.

To combat this Islington, Greenwich, Lambeth and Bristol councils have introduced a policy that forces developers "viability assessments" to be made public.

By bringing these dodgy maths into the public domain, Councils, campaigning groups and individuals will be able to hold developers to account and force them to use more honest maths.

Norwich

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Reasons for signing

  • There is so much development here in King Street - new 'studio apartments' (i.e. 'bedsits') being advertised for nearly 200K and penthouses that are pokey for 600K. Nothing seems to be 'affordable' and if it is 'social housing' it's shoddy. Nearly all the developments are being bought as 'buy to let' as we are by the station so our community is being decimated too. It's just about short-term financial gain with no vision or long-term strategy.
  • M.M Clifford
  • It's not only young people that are affected by this issue, my husband and I are in our late 30s/early 40s and we have no chance of ever affording a house as things stand. We ALL need more affordable housing.

Updates

2017-09-22 22:00:24 +0100

1,000 signatures reached

2017-08-01 22:46:04 +0100

500 signatures reached

2017-07-28 14:54:24 +0100

100 signatures reached

2017-07-28 13:11:55 +0100

50 signatures reached

2017-07-28 12:48:25 +0100

25 signatures reached

2017-07-28 12:41:41 +0100

10 signatures reached