Housebuilders reject Sajid Javid claims of delaying construction

Housebuilders hit back on Wednesday as Housing Secretary Sajid Javid warned of a more “muscular” approach from Government to companies sitting on land.

Listed builders Taylor Wimpey, Persimmon, Barratt Developments and Bovis Homes all registered share falls of 1% or more as the minister also flagged up the prospect of new charges on land which has jumped in value after being taken through the planning system.

Sir Oliver Letwin is reviewing land-banking for the Government. But builders railed at the renewed claims that the industry is sitting on plots unnecessarily.

Patrick Bergin, the incoming chief executive of Crest Nicholson, said: “All we want to do is get a consent and get on site. When we are giving people a hard time it is because they are not building.”

Jon Di-Stefano, chief executive of London-focused Telford Homes said he “didn’t have a problem” with “use it or lose it” permissions on fully consented sites, but added that the key was speeding up the time between outline and full permission. Any land tax which triggered disputes could also be “catastrophic” for development, he added.