Charnwood Residual Houisng Market

Residual Housing Strategic Market Testing

OUR BRIEF

Through the emerging core strategy, Charnwood Borough Council had identified a shortfall in projected housing delivery in the period to 2026. A number of potential Strategic Directions For Growth, both within and outside the Leicester Principal Urban Area, had been identified and options were being consulted upon. However the Council wished to understand the potential each has to enhance unit delivery and in particular the potential market impact of releasing additional residential development land on existing development allocations.

OUR APPROACH

The project inception meeting was critical in being brought quickly up to speed with available information and political sensitivities / matters of confidentiality. We then undertook a review of existing documentation (both site specific and relevant Borough / Regional market reports) and enhanced this with additional market and demographic research, including analysis of historic housing delivery rates. This provided a framework for a series of structured interviews with landowners, developers and local agents. A large amount of data and views were collated which allowed a detailed understanding of the local market sectors on a relatively fine grained scale and site specific aspirations and constraints.

We then undertook a structured matrix based approach to assess the potential market impacts of bringing forward each of the potential Strategic Directions For Growth on existing allocations. We considered market sector, product mix, values, affordability, timing and delivery rates. This allowed a structured assessment of the relative impacts under different market conditions.

We reported on the maximum potential delivery rates that could be anticipated over the plan period from each of the options, their potential impact on existing allocations and limiting and influencing factors to be considered.

OUTCOMES

Our report has now been published and stands as a piece of core evidence to inform the Charnwood Borough Council’s Core Strategy.

Clare Clarke, Principal Planning Officer at Charnwood Borough Council, commented:

“It has been a very helpful piece of work and I would be happy to provide references in the future to other LAs for similar projects as you have been great to work with.”