Company Watch: Planning issues are biggest threat to house building, says Glenveagh boss
Chief executive Stephen Garvey argues the Covid-19 pandemic may have rendered the National Planning Framework out of date
Issues with the planning system are more of a threat to the supply of new homes than inflation in construction costs, according to Stephen Garvey, chief executive of Glenveagh.
In a trading update issued on Thursday, the company said rising commodity costs caused house price inflation of 5 per cent in its suburban starter-homes during the first six months of 2021. It warned that this cost inflation would become evident in 2022 as housing projects are completed.
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