power grid

Power constraints cause delays for one-third of developers

A Knight Frank report has revealed that one-third of developers across the country have been hit by a lack of power capacity in the National Grid.

The survey of 50 volume and SME housebuilders and developers — that together build 70,000 homes across England each year — found around 15,000 of their new homes are currently held up by a lack of grid connections.

Some respondents cited difficulties with plot handovers as a result, costing thousands of pounds in temporary connections or portable generators.

The report also highlighted a rise in support from housebuilders and developers for a change in government.

Some 80% of respondents believe a Labour government would enhance the land and development market the most, up from 70% last quarter.

Over 60% of firms said that an interest rate cut was at the top of their wish lists, above planning reforms, a drop in land prices, and more first-time buyer support.

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